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Studio and distributor’s first quarter net income grows $244,000

MGM’s first-quarter 2016 revenue dropped 15 percent year over year, though the entertainment company was able to salvage slight profit growth with lowered film costs.

Overall, Q1 revenues totaled $311.3 million this time around. In 2015, the top-line was $364.5 million. Big-screen stuff was the culprit for the drop, while small-screen shows fared better this year.

Net income for the most-recent 90-day period was $57.1 million. Last year, that profit was at $56.8 million.

Recognized costs on released films has dropped, as have current production expenses. There’s more money tied up in development there, however. Television costs are up across-the-board,

This quarter, the production company and distributor released “How to Be Single,” which was co-produced by Warner Bros.

Look inside the famous shirtless and sweaty sequence with Tom Cruise and Val Kilmer 30 years later

May 11, 2016

MGM Revenue Drops 15 Percent, Though Profit Is Saved by Lower Film Costs

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That One Time Jennifer Lawrence Punched Her X-Men Co-Star Sophie Turner in the Vagina

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Voltron: Legendary Defender Trailer Unites a New Team of Warriors

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‘The Challenge: Rivals 3’ Episode 2 Spoilers: Johnny Bananas Going After Wes Bergmann? [WATCH]

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[Cannes Review] Café Society

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Taya wins GIT Award 2016

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Joe Biden: ‘I Think I Would Have Been the Best President’

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BBC announces air date for new ‘Top Gear’ series

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‘Arrow’: Tom Amandes On Noah Kuttler’s Return

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11 of the weirdest dating apps out there (step your game up, Tinder!)

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