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Lions Gate stock roars after revenue beat, assisted by 'Now You See Me 2'

An image from the movie "Now You See Me 2."
Source: Now You See Me 2
An image from the movie "Now You See Me 2."

Shares of Lions Gate Entertainment climbed 10 percent in intraday trade on Friday after the company posted better-than-expected earnings.

The stock closed 8 percent higher at $20.61 on Friday.

The company reported first-quarter revenue of $553.6 million. Lions Gate said the 35 percent year-over-year revenue growth was "driven by strong gains in Television Production revenue as well as revenue gains in all categories of the Motion Pictures segment."

Analysts had expected Lions Gate to post revenue of $494.9 million, according to a Thomson Reuters consensus estimate.

Revenue from the company's international motion picture segment saw revenue soar 34 percent to $113.8 million, helped by the box office performance of "Now You See Me 2."

The stock is down 35 percent this year and nearly 44 percent in the past 12 months.