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Post by The Ultimate Nullifier on Feb 25, 2015 11:13:58 GMT -6
variety.com/2015/biz/news/starz-tops-q4-earnings-forecasts-hits-23-3-million-subscribers-1201441418/Starz posted a 3% increase in revenue for the fourth quarter of 2014 and handily beat Wall Street expectations for profit, as the premium cabler hit an all-time high of 23.3 million subscribers as of the end of the year. The network reported net profit of $77.4 million, or 74 cents per share, beating consensus analyst estimates of 52 cents per share. Revenue in Q4 was $425.6 million, in line with expectations, with operating income rising 31% year over year to $136.1 million. For full-year 2014, revenue dropped 6%, to $1.66 billion, with net income of $271.3 million (up 9.7%). Starz subscriptions increased 1.1 million for the year, to 23.3 million, with combined Starz/Encore subs reaching 57.3 million. “The 2014 performance at Starz validates the strategy undertaken to transform the company from primarily a movie-based provider to a true gold-standard premium entertainment provider,” Starz CEO Chris Albrecht said in announcing the results. Starz touted its 2015 slate of originals, with a total of 70 episodes of scripted series, including “Ash Vs. Evil Dead” — a new installment in the “Evil Dead” horror franchise — pegged to debut in late 2015. In addition, the cabler greenlit “The Dresser,” its first original movie, co-produced with the BBC and starring Ian McKellen and Anthony Hopkins. The company also called out subscription VOD pacts, including library deals with Netflix for “Spartacus” and “Magic City,” and with Amazon Prime Instant Video for “The White Queen.” Starz also noted that it repurchased 2.3 million shares, worth $71 million, between Nov. 1, 2014, and Jan. 31, 2015. Overall, since the stock began trading in January 2013, the company has repurchased 18.6% of its outstanding shares.
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