Yahoo Finance Lions Gate Entertainment Whimpers Midday After Earnings
Investing.com - Lions Gate Entertainment (NYSE:LGFa) slid midday Friday after its latest numbers failed to impress investors.
The company reported a fall in revenue for the quarter to $914 million compared to $949.5 million expected.
Even annual growth from its cable channel Starz failed to make much of a roar.
Starz had 24.7 million total domestic subscribers, up 1.2 million from the prior quarter year over year, according to Briefing.com.
"We've completed a very active and productive fiscal 2019 in which we set in place all the elements for strong growth and continued value creation in the year ahead," Lionsgate CEO Jon Feltheimer said in a statement. "We've refilled our film and television content pipelines, refocused on extracting maximum value from our franchise properties and are capitalizing on an extraordinary opportunity to continue Starz's global expansion and cement its stature as one of the leading international pure play subscription video-on-demand services."
Lions Gate fell 8.5% in midday trade, while Netflix (NASDAQ:NFLX) rose 0.9% and Walt Disney (NYSE:DIS) inched down 0.1%.
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