AMC Networks Earnings: Here’s Why Shares are Down Now

AMC Networks (NASDAQ:AMCX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.81%.

AMC Networks Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 222.41% to $1.87 in the quarter versus EPS of $0.58 in the year-earlier quarter.

Revenue: Rose 15.79% to $379.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: AMC Networks reported adjusted EPS income of $1.87 per share. By that measure, the company beat the mean analyst estimate of $0.78. It beat the average revenue estimate of $368.08 million.

Quoting Management: President and Chief Executive Officer Josh Sapan said: “In the second quarter, our successful original content drove our overall financial results, with a 16% increase in net revenues and a 9% increase in AOCF. Our original programming continues to fuel the performance of our networks and underpin the Company’s growth, with last month’s 39 Emmy Award nominations for AMC, IFC and Sundance Channel, the most nominations of any basic cable programming group, contributing to our momentum.”

Key Stats (on next page)…

Revenue decreased 0.7% from $381.96 million in the previous quarter. EPS increased 120% from $0.85 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.83 to a profit $0.88. For the current year, the average estimate has moved up from a profit of $3.22 to a profit of $3.30 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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