Lions Gate Entertainment Corp. (NYSE:LGF) has announced its 2nd quarter results for the fiscal year 2013. The company reported revenue of $707 million in this quarter. Compared to the 2nd quarter results of 2012 ($358.1 million), the company’s revenue increased by 97%. The official press release of the company states,
"Revenue of $707.0 million in the second quarter increased by 97% compared to $358.1 million in the prior year quarter, driven by strong home entertainment revenue from the global blockbuster THE HUNGER GAMES in packaged media and on demand and digital, domestic theatrical box office revenue from films in the quarter that included THE POSSESSION, THE EXPENDABLES 2, STEP UP REVOLUTION and MADEA’S WITNESS PROTECTION (released at the end of June), as well as strong growth in international revenue."
In 2012, Lions Gate also produced the movie, starring Hollywood biggies like Sylvester Stallone, Arnold Schwarzenegger and Bruce Willis. The movie, which was made at a budget of $100 million dollars, earned more than $300 million in the box office. The success of such ventures made the company profitable.
On Friday, Lions Gate’s share price increased 14.25 %.