Elnglewood's Starz Misses Wall Street 4Q Forecasts

ENGLEWOOD, Colo. (AP) - Starz Inc. (STRZA) on Thursday reported fourth-quarter net income of $27.9 million.

On a per-share basis, the Englewood, Colorado-based company said it had profit of 26 cents.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The cable channel operator posted revenue of $427.6 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $428.3 million.

For the year, the company reported profit of $236.1 million, or $2.22 per share. Revenue was reported as $1.7 billion.

Starz shares have fallen 32 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.79, a drop of 31 percent in the last 12 months.

(© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)