AMC Networks posted a smaller first-quarter profit as ongoing declines in linear-TV revenue continued to outweigh gains from its streaming services. The cable channel reported first-quarter earnings of $18 million, or 34 cents per share, down from $45.8 million, or $1.03 per share, a year ago. Adjusted EPS was 52 cents, well below the 78-cent estimate from analysts surveyed by FactSet. U.S. subscription revenue fell 3% due to linear TV losses, international revenue dropped 12%, while streaming revenue rose 8% from price hikes. U.S. content-licensing revenue dropped 13% without last year’s “Killing Eve” sale, while advertising revenue fell 15% due to lower linear TV ratings.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02AMC Networks posted a smaller first quarter profit as ongoing declines in linear TV revenue
00:07continue to outweigh gains from its streaming services.
00:10The cable channel reported first quarter earnings of $18 million for $0.34 per share,
00:14down from $45.8 million or $1.03 per share a year ago.
00:18The cost of DPS was $0.52, well below the $0.78 estimate from analysts surveyed by FactSet.
00:23U.S. subscription revenue fell 3% due to linear TV losses.
00:26International revenue dropped 12%, while streaming revenue rose 8% for price hikes.
00:31U.S. content licensing revenue dropped 13% without last year's Killing Eve sale,
00:36while advertising revenue fell 15% due to lower linear TV rating.
00:39For all things money, visit Benzinga.com slash GSTV.