UPDATE: Lions Gate FQ2 Profit Drops 99%
Lions Gate Entertainment (NYSE: LGF) reported a 99% drop in its fiscal second-quarter profit.
Lions Gate's quarterly profit declined to $505,000, or breakeven per share, versus a year-ago profit of $75.5 million, or $0.53 per share. Excluding one-time items, it earned $0.18 per share.
Its revenue dropped 29% to $498.7 million. However, analysts were projecting a loss of $0.08 per share on revenue of $529 million.
Lions Gate shares closed at $32.14 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.