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Lionsgate reports better-than-expected third quarter

Strong income from blockbusters Wonder, LaLaLand and American Assassin helped Lionsgate Entertainment Corp’s (NYSE:LGF) third quarter revenue soar to US$1.14bn, up 52%.
Entertainment
Lionsgate resumed its quarterly cash dividend

Strong income from blockbusters Wonder, LaLaLand and American Assassin helped Lionsgate Entertainment Corp’s (NYSE:LGF) third quarter revenue soar to US$1.14bn, up 52%.

"Our strong performance in the quarter, with robust contributions from our Motion Picture Group and Starz, keeps us on track for our fiscal year expectations," said Jon Feltheimer, chief executive.

Motion Picture revenues increased 14% to US$539.1mln due to strong domestic theatrical box office performance.

The media Networks segment income reached US$382.9mln, up by 6%. TV content group Starz’s led the improvement.

Adjusted operating income was US$178mln, compared to US$86mln in the prior year quarter.

With this financial strength company resumed its quarterly cash dividends of US$0.09 per share.

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