Driven by "Hunger Games" DVDs and box office of "The Possession," Lionsgate revenue jumped by 97 percent to $707M
Movie studio Lionsgate Entertainment Corp. reported second quarter earnings of $75.5 million, meeting analysts' expectations, boosted by home entertainment sales of its blockbuster hit "The Hunger Games".
The company, also known for its Tyler Perry comedies and "Saw" horror series, said revenue jumped by 97 percent, to $707 million on the strength of DVD and delivery sales of the futuristic action film and the box office performance of its horror film "The Possession".
Lionsgate recorded a $25.3 million loss in the same quarter last year on revenues of $358.1 million.
Revenue from the company's TV division declined by 29 percent, to $99 million, it said on Thursday. The prior year's quarter included delivery to the Netflix video service of the first four episodes of its series "Mad Men".
Lionsgate merged with Summit Entertainment in January, giving it rights to the "Twilight" franchise. The studio is scheduled to release the latest installment of the vampire series, "The Twilight: Breaking Dawn Part 2", on Nov. 16.
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