Wall Street had, on average, expected about $868.3 million in revenue and earnings of 75 cents per share for that quarter, according to StreetAccount. It comes after two competitors, Facebook andAlphabet, reported soaring advertising revenues in their quarterly reports.
Lions Gate Entertainment’s stock dropped after it announced 27 cents per share of profit on revenue is $670.5 million in the latest quarter, falling short of the 40 cents on $791 million expected by Thomson Reuters analysts. The media company behind franchises like “Orange is the New Black” and “Hunger Games” movies said its “theatrical film slate” performed weaker than anticipated, but its television business was expected to do well.
The maker of Ugg boots, Deckers Outdoor, also saw shares slip after reporting earnings. Though the California-based company beat Wall Street’s profit estimates, sales fell short: It posted revenue of $795.9 million, below the $832 million expected by Thomson Reuters analysts.