Lionsgate Shares Surge 9.1% Pre-Conference as Q3 Loss Doubles to $46M
Lionsgate shares rose 9.1% to $9 ahead of a CFO presentation at the Morgan Stanley TMT Conference on March 4. In Q3 ended Dec. 31, net loss widened 111% to $46.2M while revenues jumped 15% to $724.3M, and former Treasury Secretary Steven Mnuchin joined its board.
1. Stock Rally and Upcoming CFO Presentation
Lionsgate shares climbed 9.09% to $9, extending a five-day winning streak as investors positioned ahead of CFO Jimmy Barge’s fireside chat at the Morgan Stanley TMT Conference on March 4.
2. Q3 Financial Performance
In the third quarter ended December 31, Lionsgate widened its net loss by 111% to $46.2 million from $21.9 million, while revenues rose 15% to $724.3 million year-on-year.
3. Board Addition of Steven Mnuchin
Former Treasury Secretary Steven Mnuchin joined Lionsgate’s board, bringing financial and regulatory expertise and entertainment investment experience from his tenure at Dune Capital Management.