ENGLEWOOD, Colo. (AP) — Starz (STRZA) on Thursday reported profit that climbed by 9.7 percent in its second quarter, and topped analysts' expectations.
The Englewood, Colorado-based company said profit increased to $70.1 million, or 62 cents per share, from $63.9 million, or 52 cents per share, in the same quarter a year earlier. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of 50 cents.
The company said revenue declined 21 percent to $410.1 million from $517.4 million in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $437.4 million, according to Zacks.
Starz shares have fallen 2 cents to $29.22 since the beginning of the year. However, the stock has increased $6.73, or 30 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full STRZA report: http://www.zacks.com/ap/STRZA