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 Networks Inc（納斯達克股票代碼：AMCX）報告稱，2024財年第三季度收入同比下降5.9％，至5.996億美元，超過了分析師共識估計的5.876億美元。
這家美國娛樂公司調整後的每股收益爲91美分，每年下降50.8％，超過了分析師普遍預期的62美分。
國內業務：由於基本用戶減少，會員收入下降了13％，至1.64億美元。
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- 由於預期的線性評級下降和廣告市場的挑戰，廣告收入同比下降10％，至1.33億美元。
- 由於交付的可用性，內容許可收入增長了31％，達到8100萬美元。
- 儘管遇到了這些挫折，但AMC Networks報告稱，與截至2023年9月30日的1110萬訂閱者相比，流媒體訂閱人數增長了5％，達到1180萬。
- 流媒體收入爲1.52億美元，增長了7％，這主要是受流媒體訂戶同比增長和價格上漲的推動。
- 調整後的合併營業收入下降了19％，至1.5億美元，自由現金流爲5,394萬美元。
首席執行官克里斯汀·多蘭強調了公司對關鍵戰略支柱的關注：規劃、合作伙伴關係和盈利能力。
多蘭指出，本季度在所有三個領域都取得了重大進展。
今年迄今爲止，該公司已創造了2.93億美元的自由現金流，穩步朝着兩年內累計自由現金約5億美元的目標邁進。
多蘭還強調了與Charter Communications, Inc（納斯達克股票代碼：CHTR）、Netflix Inc（納斯達克股票代碼：NFLX）和亞馬遜公司（納斯達克股票代碼：AMZN）等重要參與者建立的新的和擴大的合作伙伴關係，這有助於推動公司向前發展，同時在越來越多的平台上提供獨特、高質量的節目。
價格走勢：在週五的最後一次盤前檢查中，AMC Networks股價上漲4.79％，至8.75美元。由於該公司在過去三個季度中調整後的每股收益未達到共識，今年迄今已下跌近57％。
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