- AMC Networks Inc AMCX reported first-quarter revenue growth of 0.7% to $717.45 million, beating that $696.67 million consensus.
- Domestic operation revenue increased 1% year over year to $611.85 million. International and other revenue decreased 1.6% year over year to $108.07 million.
- Non-GAAP EPS of $2.62 beat the consensus of $1.87.
- Adjusted operating income improved 2.2% year over year to $215.76 million.
- AMC Networks used ($144.02) million in free cash flow.
- Managing Director Kristin Dolan said, “AMC Networks has always been known for great content that cut through popular culture, received critical acclaim and attracted fans.
- “As we re-evaluate ways to monetize content, we are strategically reducing costs and streamlining our organization,” added Dolan.
- Price promotion: AMCX shares traded 13% higher at $17.26 on the latest check Tuesday.
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