'John Wick 2,' 'La La Land' Power Lionsgate to Strong Q1 Earnings

Lionsgate got its fiscal 2018 off to a strong start behind a massive increase in movie profits led by strong home entertainment performances from the Keanu Reeves action-adventure sequel “John Wick 2” and almost-Best Picture winner “La La Land.”

Tuesday afternoon, the mini-major studio reported revenue of $1.01 billion and earnings of 52 cents a share for the three months ended June 30, which the company classifies as its fiscal first quarter.

Analysts had projected $996 million in revenue and earnings of 33 cents a share, according to an individual with knowledge of the estimates.

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Although Lionsgate only had two theatrical releases in the quarter, “All Eyez On Me” and “How to Be a Latin Lover,” massive home entertainment revenues from “John Wick 2” and “La La Land” helped its motion picture division increase its revenue by 16 percent and its profit by a whopping 173 percent compared with the same time the previous year.

Lionsgate also enjoyed the welcome combination of higher revenue and lower marketing costs. TV revenue dipped 19 percent due to the timing of episodic show deliveries, but television profits still jumped a healthy 31 percent.

On the company’s earnings call, Lionsgate CEO Jon Feltheimer told investors that Lionsgate renewed its theatrical distribution agreement with CBS Films for three more years. CBS released Oscar nominee “Hell or High Water” last year.

Also Read: Script by 23-Year-Old Set to Expand 'John Wick' Universe

“We are pleased to report strong first quarter financial results that have gotten fiscal 2018 off to a great start,” Feltheimer said in a statement accompanying the earnings release. “With our second straight billion-dollar revenue quarter, combined with strong bottom line profits, the scale of our global content platform is reflected in our financial results as well as our operational achievements. We continued to grow our content business in the quarter by launching significant new premium properties, expanding the reach of current brands and adding to the Lionsgate-owned or controlled platforms across which we monetize our intellectual property.”

'Power Rangers': Where Are the Mighty Morphin Actors Now? (Photos)

THUY TRANG (Yellow Ranger): The actress who played California teen Trini Kawn tragically died in a car accident in 2001. But before that, she starred in two movies outside of the "Power Rangers" universe, 1996 comedy "Spy Hard" and 1996 action film "The Crow: City of Angels."
AUSTIN ST. JOHN (Red Ranger): The real-life martial artist who played Jason Scott Lee on the hit Fox Kids program is now an EMT serving overseas, according to his Facebook profile. After the original series ended, the Ranger appeared in three other incarnations of the famous fighting force, including "Power Rangers Zeo," "Turbo" and "Wild Force."
DAVID YOST (Blue Ranger): The oldest cast member, who played high school student Billy Cranston, has said he left the series in 1996 due to homophobia he experienced on set. Although he has racked up a few acting credits since ("After Diff'rent Strokes: When the Laughter Stopped," "Degenerate"), he spent much of the last decade producing reality television, including "The Real Housewives of Beverly Hills."
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WALTER JONES (Black Ranger): This 43-year-old actor played Zack Taylor, a.k.a. the most color coded Ranger on the team, still acts to this day. He has 46 acting credits to his name, including TV guest star appearances, movies and voice work.
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AMY JO JOHNSON (Pink Ranger): The 43-year-old actress who played Kimberly Hart is arguably the most successful of the "Power Rangers" in Hollywood. Since leaving the series in 1995, she has starred as regular on TV shows including "Felicity," "The Division" and "Flashpoint." The married mom is also an accomplished singer/songwriter, with three studio albums under her belt.
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JASON DAVID FRANK (Green/White Ranger): The 40-year-old mixed martial artist who played Tommy Oliver reprised the role in 2014 for an episode of "Power Rangers Megaforce." In a 2013 interview, the MMA fighter said he's, "talking to Saban about making a PG-13 Green Ranger movie," and shot a reality show called "This Is My Morphin Life."
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