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Lionsgate Studios Corp. (LION+3.31%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing total revenues of $713.8 million, an increase from $691.6 million in the same quarter the previous year. The increase is attributed to higher revenues in the Television Production segment, offset by decreased revenues in the Motion Picture segment.
Direct operating expenses for the quarter were $457.1 million, representing 64.0% of revenues, compared to 62.7% in the same quarter of the previous year. This increase is due to higher direct operating expenses in the Television Production segment.
The company reported an operating income of $49.6 million for the quarter, compared to $7.3 million in the previous year, with the improvement attributed to increased revenues and lower distribution and marketing expenses.
Interest expense for the quarter was $58.5 million, up from $55.5 million in the previous year, due to higher average balances on variable rate corporate debt and film-related obligations.
Net income for the quarter was $8.4 million, compared to a net loss of $44.8 million in the previous year. After adjustments for noncontrolling interests, net income attributable to Lionsgate Studios Corp. shareholders was $6.4 million, compared to a loss of $41.1 million in the previous year.
Cash used in operating activities was $362.9 million for the nine months ended December 31, 2024, compared to cash provided by operating activities of $401.5 million in the previous year. The decrease is primarily due to higher cash used for investment in film and television programs.
The filing also details various financing activities, including the use of proceeds from the Business Combination and related transactions to repay $299.0 million of the Intercompany Note.
Lionsgate Studios Corp. continues to focus on its Motion Picture and Television Production segments, with a significant portion of its revenues generated from licensing content to the Starz Business.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lionsgate Studios Corp. quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.