AMC Q1 Revenue Declines As Advertising And Distribution Woes Continue
deadline.comAMC Networks fell short of Wall Street analysts’ forecasts with a set of first-quarter financial results reflecting the company’s ongoing struggles with advertising.
Revenue fell 17% from the year-ago quarter to $596 million, though the company noted that Excluding nonrecurring revenues related to Silo and 25/7 Media, net revenues would have declined 6%.
Earnings per share fell by more than half, settling at $1.16 on an adjusted basis. Advertising revenues decreased 13% to $140 million, with the company citing a downturn in linear ratings and a challenging ad market.
Affiliate revenues decreased 14%, which the company blamed on “basic subscriber declines.” Content licensing revenues decreased 40% to $62 million due to the availability of deliveries in the period.
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