The numbers are the last to land thisearningsseason.
Profit of about $135 million rose 10%.
The improvement was solid but a surprise.
Lionsgate’s LA headquartersGetty
Revenue fell by 7.1% year-on-year to $361.5 million.
Domestic streaming revenue growth was offset by declines in domestic linear and Lionsgate+ revenue.
Profit fell 28% to $52.5 million.
Hes referring to a major, ongoing restructuring that will end with the studio business trading independently from Starz.
Adjusted net income was $63.4 million or $0.27 a share.
Adjusted OIBDA was $140.3 million in the quarter.
Library revenue in the quarter was a record $339 million.
Backlog from the Motion Picture and Television Production segments was $1.5 billion as of March 31.
The longstanding LGF stock symbol trading on the NYSE reps a company that includes the studio plus Starz.
Investors in the SPAC (called Screaming Eagle Acquisition Corp.) hold about 13% of the studio.
A second step in the split anticipated by year end will see a standalone Starz.
Separately, both pieces will be in play.
Execs will likely weigh in on a call at 5 ET.
