AMC Networks 1Q Profit Falls as Revenue Lines Weaken

Dow Jones05-10

By Dean Seal

AMC Networks recorded a smaller profit in the first quarter as revenue from subscriptions, content licensing and advertising all declined.

The operator of cable channels and streaming networks posted a profit of $45.8 million, or $1.03 a share, compared with $103.6 million, or $2.36 a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were $1.16 a share. Analysts polled by FactSet had been expecting $1.66 a share.

Revenue fell 17% to $596.5 million, missing analyst projections for $602 million, according to FactSet.

Subscription revenue fell 7% to $232 million as higher streaming revenue was more than offset by a drop in linear TV subscribers.

Licensing revenue was down 40% at $62 million due to fewer content deliveries becoming available during the quarter.

Advertising revenue dropped 13% as linear TV ratings declined and the advertising market remained challenged, though there was some growth in digital and advanced revenue.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 10, 2024 07:21 ET (11:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2434016832?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-10 19:21","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2434016832","market":"nz","top_or_hot":-1,"title":"AMC Networks 1Q Profit Falls as Revenue Lines Weaken","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  AMC Networks recorded a smaller profit in the first quarter as revenue from subscriptions, content licensing and advertising all declined. \n</p>\n<p>\n  The operator of cable channels and streaming networks posted a profit of $45.8 million, or $1.03 a share, compared with $103.6 million, or $2.36 a share, in the same quarter a year ago. \n</p>\n<p>\n  Stripping out one-time items, adjusted earnings were $1.16 a share. Analysts polled by FactSet had been expecting $1.66 a share. \n</p>\n<p>\n  Revenue fell 17% to $596.5 million, missing analyst projections for $602 million, according to FactSet. \n</p>\n<p>\n  Subscription revenue fell 7% to $232 million as higher streaming revenue was more than offset by a drop in linear TV subscribers. \n</p>\n<p>\n  Licensing revenue was down 40% at $62 million due to fewer content deliveries becoming available during the quarter. \n</p>\n<p>\n  Advertising revenue dropped 13% as linear TV ratings declined and the advertising market remained challenged, though there was some growth in digital and advanced revenue. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 10, 2024 07:21 ET (11:21 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Networks 1Q Profit Falls as Revenue Lines Weaken</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Networks 1Q Profit Falls as Revenue Lines Weaken\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-10 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Dean Seal \n\n\n \n\n\n  AMC Networks recorded a smaller profit in the first quarter as revenue from subscriptions, content licensing and advertising all declined. \n\n\n  The operator of cable channels and...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AMCX","symbol_name":"AMC网络公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2434016832","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434016832","pubTimestamp":1715340060,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"AMC Networks recorded a smaller profit in the first quarter as revenue from subscriptions, content licensing and advertising all declined.The operator of cable channels and streaming networks posted a profit of $45.8 million, or $1.03 a share, compared with $103.6 million, or $2.36 a share, in the same quarter a year ago.Stripping out one-time items, adjusted earnings were $1.16 a share. Analysts polled by FactSet had been expecting $1.66 a share.Revenue fell 17% to $596.5 million, missing analyst projections for $602 million, according to FactSet.Subscription revenue fell 7% to $232 million as higher streaming revenue was more than offset by a drop in linear TV subscribers.Licensing revenue was down 40% at $62 million due to fewer content deliveries becoming available during the quarter.Advertising revenue dropped 13% as linear TV ratings declined and the advertising market remained challenged, though there was some growth in digital and advanced revenue.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"AMCX":"AMC网络公司","AMC":"AMC院线"},"translate_title":"AMC网络1Q利润下降，收入线减弱","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":1,"AMCX":1},"content_text":"By Dean Seal \n\n\n \n\n\n  AMC Networks recorded a smaller profit in the first quarter as revenue from subscriptions, content licensing and advertising all declined. \n\n\n  The operator of cable channels and streaming networks posted a profit of $45.8 million, or $1.03 a share, compared with $103.6 million, or $2.36 a share, in the same quarter a year ago. \n\n\n  Stripping out one-time items, adjusted earnings were $1.16 a share. Analysts polled by FactSet had been expecting $1.66 a share. \n\n\n  Revenue fell 17% to $596.5 million, missing analyst projections for $602 million, according to FactSet. \n\n\n  Subscription revenue fell 7% to $232 million as higher streaming revenue was more than offset by a drop in linear TV subscribers. \n\n\n  Licensing revenue was down 40% at $62 million due to fewer content deliveries becoming available during the quarter. \n\n\n  Advertising revenue dropped 13% as linear TV ratings declined and the advertising market remained challenged, though there was some growth in digital and advanced revenue. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 10, 2024 07:21 ET (11:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434016832"}