Lionsgate Shares Rise on Positive Q4 Earnings
Lionsgate reported earnings for its fiscal 2018 fourth quarter on Thursday that were above Wall Street’s expectations.
The film and TV studio reported earnings of 41 cents per share for the quarter. Adjusted earnings were 25 cents per share, up from 28 cents per share during the same quarter a year ago. Analysts were expecting the company to report a loss of 4 cents per share, according to estimates gathered by Yahoo Finance.
Revenue for the quarter was $1.04 billion, down from the $1.26 billion Lionsgate reported last year, and just above analyst’s forecasted $1.03 billion.
The company said in a release that earnings benefited from the change in U.S. federal corporate tax rates.