UPDATE 3-Lions Gate post wider-than-expected Q2 loss

* Lions Gate posts narrower Q2 loss 41 cents

* Lions Gate Q2 revenue up 8 pct to $380.7 mln

* Lions Gate shares fall in thin trade (adds board authorizing share repurchase)

By Sue Zeidler

LOS ANGELES, Nov 10 (Reuters) - Lions Gate Entertainment Corp (LGF.N)on Monday posted a wider-than-expected second quarter loss, hurt by poor box office showings for three of its films.

Lions Gate just released the latest installment of its hit "Saw" horror franchise in the current quarter, but said its second quarter releases were mainly disappointing due to the underformance of three films, "Bangkok Dangerous," "Disaster Movie," and "My Best Friend's Girl."

The company, which also just eliminated 41 positions, or 8 percent of its headcount, posted a second quarter net loss of $48.1 million, or 41 cents a share, compared with a net loss of $58 million, or 49 cents per share in the year-earlier second quarter.

Analysts, on average, had expected a loss of 15 cents per share on revenue of $385.3 million, according to Reuters Estimates.

Revenue rose to $380.7 million from $351.7 million a year earlier.

Lions Gate spokesman Peter Wilkes said the company laid off 17 staffers last week and cut 24 unfilled positions in an effort to cut costs. Lions Gate will provide more information about its results on a conference call on Tuesday.

Analysts said they expect the job cuts and other savings will trim up to $10 million in annual costs.

The company's headcount had grown in recent years, due largely to acquisitions, including the purchase of production company Mandate Pictures, Redbus Film Distributors and TV syndication company Debmar-Mercury.

"I would not read anything incrementally positive from the results, but you never know the full picture until we hear from management on the earnings call on Tuesday for additional color," said RBC Capital Markets analyst David Bank.

"The fact they cut staffers might indicate they'll need to get better control of costs in the current environment," he said.

Lions Gate on Monday also said its board recently approved the buyback of up to $50 million of its shares, increasing its total share buyback authorization to $150 million, of which about $65 million of shares have been repurchased to date.

Lions Gate theatrical revenue fell 25 percent to $34 million from $45.3 million a year earlier when it released "3:10 to Yuma," "Good Luck Chuck" and "War."

But overall, motion picture revenue for the quarter rose 29 percent to $312.2 million as growth in home entertainment helped offset the declines in revenues from the box office.

Lions Gate Chief Executive Officer Jon Feltheimer said the company's recent investments were providing the kind of returns that will elevate it to the next level of financial results in the future.

The company's stock traded slightly lower at $6.30 in after-hours trade, after closing down 29 cents at $6.33 on the New York Stock Exchange. (Reporting by Sue Zeidler; Editing by Bernard Orr and Carol Bishopric)