UPDATE 2-Lions Gate Q2 swings to profit on TV, lower costs

* Q2 profit, revenues beat Wall Street estimates

* Q2 net EPS 26 cents vs loss of 44 cents in '08 Q2

* Q2 revenues up 3 pct from year ago

* Shares up 5 pct after earnings report (Adds EPS forecast, analyst comment, details, byline)

By Gina Keating

LOS ANGELES, Nov 9 (Reuters) - Independent film studio Lions Gate Entertainment Corp (LGF.N) on Monday swung to a profit on gains at its television operations and lower film production costs, far outstripping Wall Street forecasts and sending its shares up 5 percent.

TV production revenue rose 30 percent to $88.9 million on gains in domestic series licensing for "Weeds," "Mad Men," "Crash," "Tyler Perry's House of Payne," "Meet the Browns" and "The Wendy Williams Show," and on higher international and DVD sales for the series.

Caris & Co analyst David Miller called the results outstanding and said they show that Lions Gate had responded for two consecutive quarters to pressure to cut costs from shareholder activists, including billionaire investor Carl Icahn.

"They kept costs in line. Icahn would obviously be happy," Miller said.