Lionsgate Studios reported a record first-quarter profit, driven by the billion-dollar global box office of the Michael Jackson biopic "Michael" and strong ancillary performance from "The Housemaid."
Motion picture revenue for the June quarter reached $587 million, more than doubling from the same period a year earlier. Profit hit a first-quarter record of $105 million, the company said.
"Michael" has crossed the $1 billion mark in worldwide ticket sales, confirming its status as a major theatrical hit.
Television production revenue, however, declined to $189 million, and profit in that segment also fell, according to the company's earnings report.
Lionsgate's results show the financial impact of a single blockbuster film on its overall performance, with the movie business more than offsetting weakness in television production. The company did not provide further details on the size of the television profit decline in the released figures.