August 5, 2021 Updated: August 5, 2021 5:35 p.m.
SANTA MONICA, Calif. (AP) _ Lions Gate Entertainment Corp. (LGF.A) reported a loss of $ 45.4 million for the first quarter on Thursday after posting a profit in the same period last year.
The Santa Monica, California-based company reported a loss of 20 cents per share. Adjusted for one-time costs and stock option expenses, earnings were 18 cents per share.
The results exceeded Wall Street’s expectations. The average estimate by seven analysts surveyed by Zacks Investment Research was earnings of 9 cents per share.
The film producer and distributor had sales of $ 901.2 million for the period, which also exceeded Street forecasts. Seven analysts surveyed by Zacks expected $ 886.2 million.
Lions Gate stocks are up 29% year-to-date. In the last few minutes of trading on Thursday, the stock hit $ 14.71, up 83% over the past 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks share report on LGF.A at https://www.zacks.com/ap/LGF.A
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