Lions Gate Shares Slip Following First-quarter Earnings

By Sue ChangMarketsMarketWatch Pulse

Shares of Lions Gate Entertainment Corp. edged down in Tuesday's extended session after the entertainment company said its television production segment underperformed other departments. Lions Gate reported its fiscal first-quarter earnings rose to $173.8 million, or 80 cents a share, from $1.3 million, or a penny a share, a year earlier. On an adjusted basis, the company behind hits like "La La Land" would have earned 52 cents a share. Revenue jumped to $1.01 billion from $553.6 million. Television production segment revenue fell 18.6% to $156.6 million while its motion picture segment rose 15.8% to $472.4 million. Lions Gate's first-quarter data include Starz's results which it bought it bought at the end of last year. Analysts surveyed by FactSet had forecast earnings of 20 cents a share on revenue of $997 million. Lions Gate shares fell 0.1% after hours.

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