TECH - AMC Networks Stock Slips: What's Behind the Sharp Revenue and EPS Decline? | Benzinga
AMC Networks Inc. (NASDAQ:AMCX) reported a fiscal first-quarter 2024 revenue decline of 16.9% year over year to $596.46 million, missing the analyst consensus estimate of $602.60 million.
The American entertainment company's adjusted EPS of $1.16 fell 55.7% year over year and missed the analyst consensus estimate of $1.67. The stock slid after the print.
Domestic Operations: Affiliate revenue decreased 14% due to basic subscriber declines. Advertising revenues decreased 13% Y/Y to $140 million due to anticipated linear ratings declines and a challenging ad market.
Content licensing ...