Lionsgate delivered a second-quarter profit of $15.5 million, as compared with the year-ago loss of $17.5 million, on revenues of $940.8 million.
“Our strong performance in the quarter keeps us on track for our fiscal year expectations, and our robust free cash flow is enabling us to continue our consistent deleveraging ahead of schedule,” said CEO Jon Feltheimer. “Starz continued to report strong overall subscriber gains, with its direct to consumer offering leading the way. Our ability to leverage our strengths, mitigate risk and focus on segments where we can continue to win puts us on a strong, profitable growth path.”
Revenues from its media networks, including Starz, rose to $393.4 million, with a segment profit of $116.5 million, on higher OTT revenues, lower programming costs and the licensing of Power.
Motion-picture revenues, meanwhile, fell to $385.7 million as a result of fewer wide releases.
Television production segment revenues fell to $168.7 million as a result of the timing of episodic deliveries of Orange Is the New Black. Segment profits declined to $8.6 million.