AMCX - AMC Networks reports Q2 earnings miss; reaffirms FY22 soft guidance
- AMC Networks press release ( NASDAQ: AMCX ): Q2 Non-GAAP EPS of $2.06 misses by $0.22 .
- Revenue of $738.03M (-4.3% Y/Y) misses by $39.9M .
- On track to achieve long-term subscriber goal of 20 million to 25 million streaming subscribers by 2025, with 10.8 million streaming subscribers as of June 30, 2022.
- Second quarter net streaming subscriber additions of 1.3 million, led by the June 2022 launch of AMC+ in Spain.
- Reaffirming full year 2022 financial outlook of low-single-digit total company revenue growth; adjusted operating income approximately 10% lower than the full year 2021 due to increased strategic content, marketing, and technology investments, and free cash flow of ~$100 million.
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AMC Networks reports Q2 earnings miss; reaffirms FY22 soft guidance