Starz Misses On Profit And Revenue, But Subscriptions Jump

By Trey WilliamsMarketWatch Pulse

Media and Entertainment company Starz Inc. missed FactSet consensus on earnings per share and revenue when it reported second-quarter earnings Wednesday morning. Starz said it had earnings of $63.4 million, or 59 cents a share, down from $70.1 million, or 62 cents a share, in the year-earlier period, and below the FactSet consensus of 64 cents a share. Revenue came in at $418 million, up from $410 million a year ago, but below the FactSet consensus of $450 million. The network said its original programming is on track to reach 75-80 new episodes of original series. Starz subscriptions increased 1.5 million to 23.5 million. Starz's stock, which was still inactive in premarket trade, is up 51% in the year to date.

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