MGM Narrows First-Quarter Loss
From Bloomberg News
Los Angeles-based Metro-Goldwyn-Mayer Inc., the film studio controlled by billionaire Kirk Kerkorian, said its first-quarter loss narrowed to $21.3 million as it sold more DVDs and tickets to movies such as “Barbershop 2: Back in Business.â€
The net loss shrank to 9 cents a share from $55.8 million, or 22 cents, a year earlier. Revenue climbed 17% to $464 million, MGM said.
Shares of MGM slipped 17 cents to $20.89 on the NYSE.
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