AMC Networks Tops Q4 Backed By Paid Streaming Subscription Momentum-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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AMC Networks Tops Q4 Backed By Paid Streaming Subscription Momentum

Benzinga2022-02-16

AMC Networks Inc (NASDAQ:AMCX) reported fourth-quarter FY21 revenue growth of 3% year-on-year to $803.7 million, beating the consensus of $758.95 million.
Domestic Operations revenues increased 3.8% Y/Y to $684.9 million, with Advertising revenues declining 1% to $234 million from higher pricing and ad-supported streaming growth. Distribution revenues rose 7% to $451 million. Subscription revenues grew 11%, driven by growth in streaming revenues.
International and other revenues declined 3.5% to $121.9 million.
Adjusted operating income decreased 16% Y/Y to $122 million, reflecting increased investments in subscriber acquisition and retention marketing to support the streaming services growth.
Adjusted EPS of $0.54 beat the consensus of $0.23.
AMC held $892.2 million in cash and equivalents as of December 31, 2021, and generated $99.5 million in operating cash flow in Q4.
AMC ended 2021 with over 9 million aggregate paid streaming subscribers.
AMC remains on track to achieve the long-term target of 20 million - 25 million streaming subscribers by year-end 2025.
Price Action: AMCX shares traded lower by 0.92% at $44.25 in the premarket on the last check Wednesday.

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ZenInv
·2022-02-17
Will AMC ever turn around?
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Grednana
·2022-02-17
👍
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Andaroo
·2022-02-17
Amc gme apes moon
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soo hoo
·2022-02-17
Good
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carroll
·2022-02-16
hi
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