Lions Gate Entertainment Misses Q3 Earnings and Revenue Estimates
Lions Gate Entertainment Corp LGF just released their third quarter fiscal 2016 earnings results, posting earnings of $0.37 and revenue of $670.5 million.
Currently, LGF has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.
1. Missed earnings estimates. The company posted $0.37 , missing our Zacks Consensus Estimate of $0.48. This number excludes $0.11 from nonrecurring items.
2. Missed revenue estimates. The company saw revenue figures of $670.5 million , missing our estimate of $781 million.
3. Reported an increase in free cash flow to $73.9 million and net income of $40.7 million.
4. "While the performance of our theatrical film slate resulted in softer than anticipated results, our other businesses performed strongly in the quarter," said Lionsgate Chief Executive Officer Jon Feltheimer. "With our television business continuing its robust topline and margin growth, a deeper and more diversified film slate with lower costs and contributions anticipated from recently launched businesses, we have a clear path to resume our strong and sustainable financial trajectory in fiscal 2017."
5. LGF was down $1.20, or 4.72%, to $24.25 as of 4:15 PM ET in after hours trading shortly after its earnings report was released.
Here's a graph that looks at Lions Gate's long-term quarterly revenue and growth rate:
Lions Gate Entertainment Corp. is an entertainment company with a presence in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution and new channel platforms. It is engaged in the development and production of feature films, North American theatrical, home entertainment, and television distribution of feature films and worldwide licensing of distribution rights to feature films. Lions Gate Entertainment was founded in 1997and is headquartered in Santa Monica, California.
Check back later for our full analysis on Lions Gate's third quarter earnings report!