Lionsgate beat an analyst forecast for revenues, but fell short on a per-share estimate with its latest financial results
Lionsgate on Thursday swung to a fiscal third-quarter loss on rising revenue, as the Hollywood studio as it drives into streaming saw its global subscriber base for Starz, Starzplay Arabia and Pantaya grow to 28.5 million, up from 27 million subscribers at the end of its second quarter.
Lionsgate reported adjusted earnings of 14 cents per share for the three months ending on Dec. 31, which fell short of a Wall Street estimate for 18 cents in per-share earnings during the latest quarter. The studio swung to a quarterly loss of $91.2 million, against a year-earlier profit of $23 million.
The media networks segment, driven by Starz, reported revenue of $382.4 million, up. 4.3 percent from $366.8 million.
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