SANTA MONICA, Calif. (AP) _ Lions Gate Entertainment Corp. (LGF.A) on Thursday reported a loss of $54 million in its fiscal first quarter.
The Santa Monica, California-based company said it had a loss of 25 cents per share. Losses, adjusted for one-time gains and costs, were 2 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The motion picture producer and distributor posted revenue of $963.6 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $925.4 million.
Lions Gate shares have declined 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.63, a decline of 45% in the last 12 months.