SANTA MONICA, Calif. (AP) _ Lions Gate Entertainment Corp. (LGF.A) on Thursday reported a fiscal second-quarter loss of $18.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 8 cents. Earnings, adjusted for one-time gains and costs, came to 33 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The motion picture producer and distributor posted revenue of $745 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $730.8 million.
Lions Gate shares have dropped 34% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.04, a decrease of 14% in the last 12 months.