AMC Networks Inc (NASDAQ: AMCX) reported a fiscal third-quarter 2024 revenue decline of 5.9% year over year to $599.6 million, beating the analyst consensus estimate of $587.6 million.
The American entertainment company's adjusted EPS of 91 cents fell 50.8% yearly, beating the analyst consensus estimate of 62 cents.
Domestic Operations: Affiliate revenue decreased 13% to $164 million due to basic subscriber declines.
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- Advertising revenues decreased 10% Y/Y to $133 million due to anticipated linear ratings declines and a challenging ad market.
- Content licensing revenues increased 31% to $81 million due to the availability of deliveries.
- Despite these setbacks, AMC Networks reported that streaming subscribers increased by 5% to 11.8 million compared to 11.1 million subscribers as of Sept. 30, 2023.
- Streaming revenues of $152 million increased by 7%, primarily driven by year-over-year streaming subscriber growth and price increases.
- The consolidated adjusted operating income decreased 19% to $150 million, with free cash flow at $53.94 million.
CEO Kristin Dolan emphasized the company's focus on critical strategic pillars: programming, partnerships, and profitability.
Dolan noted significant progress in all three areas during the quarter.
Year-to-date, the company has generated $293 million in free cash flow, moving steadily toward its goal of around $500 million in cumulative free cash over two years.
Dolan also highlighted new and expanded partnerships with significant players like Charter Communications, Inc (NASDAQ:CHTR), Netflix Inc (NASDAQ:NFLX), and Amazon.Com Inc (NASDAQ:AMZN), which are helping drive the company forward while delivering unique, high-quality programming across a growing range of platforms.
Price Action: AMC Networks stock is up 4.79% to $8.75 premarket at the last check on Friday. It plunged close to 57% year-to-date as the company's adjusted EPS missed the consensus in the last 3 quarters.
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amc网络股份有限公司（纳斯达克：AMCX）报告称，2024财年第三季度营业收入同比下降5.9％，至59960万美元，超过分析师一致预期的58760万美元。
这家美国娱乐公司经调整后的每股收益为91美分，同比下降50.8％，超过分析师一致预期的62美分。
国内业务：由于基础订阅用户下降，附属收入下降13％至16400万美元。
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- 由于预期的线性评级下降和市场广告竞争激烈，广告收入同比下降10％至13300万美元。
- 由于交付内容增加，内容许可收入增长31％至8100万美元。
- 尽管遇到这些挫折，amc网络报告称，与2023年9月30日的1110万订阅用户相比，流媒体订阅用户增加了5％，达到1180万。
- 流媒体营收为15200万美元，增长7％，主要受到年度流媒体订阅用户增长和价格上涨的推动。
- 调整后的合并营业收入下降19％至15000万美元，自由现金流达到5394万美元。
达兰首席执行官Kristin Dolan强调公司专注于关键的战略支柱：节目、合作伙伴关系和盈利能力。
达兰指出公司在本季度在这三个领域取得了显著进展。
截至目前，该公司已经在自由现金流方面产生了29300万美元，稳步迈向在两年内累计自由现金约50000万美元的目标。
达兰还强调了与特许通讯公司、Netflix公司和亚马逊公司等重要参与者建立的新伙伴关系以及扩大伙伴关系，这些伙伴关系正在推动公司向前发展，同时在日益增长的平台范围内提供独特且高质量的节目。
股价表现：AMC网络的股价在上周五最后一次交易时段预开盘上涨4.79％，至8.75美元。 截至目前，该公司的股价年初至今下跌近57％，因公司的调整后每股收益在过去3个季度未达到共识水平。
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