Lionsgate Q4 Earnings Disappoint Investors
Lionsgate shares slid 6.6 percent in after hours trading on Thursday, after the film and TV company reported earnings of $49.2 million for its fourth quarter, or 35 cents a share. The numbers, filed after the market closed, were below Wall Street expectations of 40 cents a share for the period ending March 31. The shares dropped $1.96 to $27.57. Also read: Lionsgate Partners With Freddie Wong's RocketJump Studios Quarterly revenues for the studio were $721.9 million, down eight percent from the year-ago quarter's $785.7 million. Some of that drop can be attributed to a $141 million tax benefit that Lionsgate received during the same period last year. More to come … The post Lionsgate Q4 Earnings Disappoint Investors appeared first on TheWrap.
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