Lionsgate topped Wall Street’s earnings per share (EPS) and revenue forecasts on Thursday when the media company revealed its results for the fourth quarter of 2017.
The company reported 30 cents of EPS on revenue of $1.26 billion, fairly comfortably topping media analysts’ marks of 22 cents and $1.19 billion, respectively.
On the annual basis, Lionsgate posted $3.2 billion in revenue, resulting in 9 cents of earnings per share. The full year’s financials reflect Lionsgate’s 2016 purchase of Starz, which came with an $89 million restructuring charge.
In the most recent 90-day period, Lionsgate’s Media Networks arm increased its profits 10.7 percent to $124.8 million, thanks in part to the licensing of “Black Sails.” TV production’s net income went in the opposite direction, unfortunately — but on the big screen, “La La Land” aided in both profit and prestige.
“We’re pleased to report our first full quarter of financial results since we brought Starz into the Lionsgate family, and the numbers reflect a great finish to a strong year,” Lionsgate CEO Jon Feltheimer said in a media release. “Our film slate ended fiscal 2017 with an impressive box office run, our Television Group turned in another standout performance and Starz had a great year. We couldn’t be more pleased with how successfully we’re integrating them into our operations and, working together, unlocking fresh opportunities.”
LGF stock spiked immediately after announcing its earnings. Nearly just as quickly, shares of the company came right back down to earth.