SANTA MONICA, Calif. (AP) _ Lions Gate Entertainment Corp. (LGF.A) on Thursday reported fiscal second-quarter net income of $1.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Santa Monica, California-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, were 22 cents per share.
The results surpassed 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 $983.5 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $866.7 million.
Lions Gate shares have fallen 48% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.34, a drop of 57% in the last 12 months.