Lionsgate Reports Narrowed Losses and Record Library Revenue in Q3

The studio exceeded Wall Street expectations as it prepares to finalize the separation of Lionsgate Studios and Starz.

Lionsgate reported a net loss of $21.9 million for its fiscal third quarter, an 80% improvement from the $107.4 million loss in the same period last year.
Total revenue for the quarter was $970.5 million, slightly down from $975.1 million a year ago but above analysts' projections of $922 million.
The company's trailing 12-month library revenue hit a record $954 million, up 22% year-over-year, driven by increased licensing of films and shows.
Television production saw significant growth, with revenue rising 63% to $404.6 million and segment profit increasing to $60.9 million from $9.1 million in the prior year quarter.
Lionsgate is finalizing the separation of Lionsgate Studios and Starz into standalone entities, with Starz to trade under the symbol STRZ and Lionsgate under LION.