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Why Shares of Lionsgate Entertainment Jumped Over 25% Today

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what happened

shares lionsgate entertainment (LGF-A 25.33%) (LGF-B 25.68%) They were up 25.3% and 25.7%, respectively, at Friday’s close. The film and television studio reported stellar third-quarter results for fiscal 2023, and investors were eager for some good news.

so what

Lionsgate’s sales rose 13% year over year to $1 billion in the period ended Dec. 31. Adjusted earnings soared from $0.02 per diluted share to $0.26 per diluted share in the same period. Analysts on average expect its revenue to shrink 2%, while earnings should have stopped at $0.19 per share. The studio greatly exceeded both goals.

what to do

Much of Lionsgate’s sales growth came from its television production unit, which renewed six shows in the fiscal third quarter.

Its shares have nearly doubled since hitting cyclical lows in early January.Investors are starting to see the future of Lionsgate’s popular content franchise with hope video stream manipulation again. Still, Lionsgate shares are still more than 37% below the multi-year highs reached in summer 2021.

All things considered, the media company is hardly the safest investment on the planet, but Lionsgate looks like a better bet after this strong report. Yes, the stock isn’t that cheap right now, but that’s because the company is showing some strength that many investors are starting to forget about. Its TV production arm, most importantly, is now leapfrogging its heavyweights.

Anders Bylund Have no positions in any of the stocks mentioned above. The Motley Fool has no positions in any of the stocks mentioned above. The Motley Fool has a Disclosure Policy.

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