After divesting its Starz cable and streaming business, the latest quarterly financial report of Lionsgate Pictures showed that the company's net loss reached $94 million.
Today, Lionsgate Film only retains its film and television production business.During this quarter, the company launched the highly acclaimed Hollywood satire The Studio, which was broadcast on Apple TV, and also released the highly anticipated John Wick series spin-off movie "Ballerina", but the box office performance was disappointing.In addition, the film "Another Simple Favor" failed to drive overall revenue growth, but its TV department's profit doubled.
Overall revenue reached US$555.9 million.The company lost $10.6 million in operation and lost 35 cents per share.
This result is basically in line with market expectations.Although Lionsgate slightly exceeded Wall Street's forecast of $553 million in revenue, it lost slightly higher than expected 25 cents.Even so, after the financial report was released, Lions Gate's stock price rose by more than 2% in after-hours trading.
Lionsgate CEO Jon Feltheimer confessed that the company had experienced a turbulent period before the split with Starz, but promised: "We are taking a series of important measures to return to a steady growth track in fiscal 2027." In his statement, he said the company had arranged three heavyweight films to be released in the next fiscal year and planned to "double the number of homemade TV series next year while continuously expanding its brand influence to extend it to emerging businesses and new platforms."
In a subsequent conference call with analysts, Feltheimer further revealed that the company will cut spending and is committed to becoming a pioneer in the application of artificial intelligence technology.“If we can effectively execute the strategy in these key areas, we will be expected to restore the growth momentum that shareholders are looking forward to in fiscal 2027,” he said firmly.
Looking to the future, Lionsgate has recently started filming The Hunger Games: Sunrise on the Reaping, a blockbuster sequel to the best-selling fantasy novel; at the same time, the company has also collaborated with Mel Gibson to create a two-part sequel to The Passion of the Christ.In addition, Lionsgate recently launched the suspense series "The Hunting Wives" for Netflix.
