Lions Gate Entertainment (NYSE:LGF) shares rose slightly after hours Thursday as the company swung to an unexpected profit.
The media company posted adjusted earnings of $0.21 per share, compared to an expected loss of $0.05 per share.
Revenue was $1.02 billion, up from $875.2 million a year earlier and compared to expectations of $1.01 billion.
TV production revenue fell 9% as production halted due to the actors’ and writers’ strike, but the company maintained its full-year outlook a day after SAG-AFTRA reached a tentative deal with Disney, Netflix and others Wednesday.
Shares of Lions Gate rose 0.3% to $9.10.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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