- Lions Gate reported a 19% increase in revenue for its fiscal second quarter.
- The most notable improvement was in its television unit, where revenue rose by 70% over the year-ago quarter.
- Management has increased its content marketing spending to over $3 billion.
Shares of Lions Gate Entertainment were surging Friday after the media company delivered strong fiscal second-quarter earnings results after the bell on Thursday. As of 1:57 p.m. EDT, its class A shares were up 26.4%, and its class B shares were up by 30%.
For the period, which ended Sept. 30, revenue increased 19% year over year to $887 million, while operating profit was roughly on par with the year-ago quarter at just $29.8 million.