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Lions Gate 3Q tops views; aided by ‘Catching Fire’
Question of the Day
SANTA MONICA, Calif. (AP) - Lions Gate Entertainment Corp.’s holiday quarter results topped Wall Street forecasts, helped by the strong box office haul from “The Hunger Games: Catching Fire.”
The second film in the franchise grossed $860 million in global ticket sales, 25 percent better than the debut installment. The next two films in the series, parts 1 and 2 of “Mockingjay,” are set to be released this November and in November 2015.
Net income in the fiscal third quarter through Dec. 31 more than doubled to $88.8 million, or 59 cents per share, from $37.8 million, or 27 cents per share, a year earlier.
Analysts polled by FactSet predicted 46 cents per share.
Revenue grew 13 percent to $839.9 million, above the $833.5 million analysts had forecast.
Shares rose 8 cents to $31.81 in after-hours trading Thursday, after closing up $1.05, or 3.4 percent, at $31.73 in the regular session.
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By Robert N. Tracci
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