AMC Networks Q3 revenue down 6.6%, EPS $1.44; FCF surges to $99M from $7.5M

AMC Global Media Inc.

2023-Q3 EPS reported $5.40 revenue$2,033,029,000

Net revenues $637M, down 6.6% YoY; operating income $121M (-19.8%).
Diluted EPS $1.44; adjusted EPS $1.85, down 11.5% YoY.
Free cash flow $99M, up from $7.5M in prior-year quarter, driven by expense savings.
Streaming revenues $142M, up 9% YoY on subscriber growth; launched ad-supported AMC+.
Launched programmatic ad buying on linear networks, an industry first.

item 2.02 item 9.01 item 99.1

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMC Global Media Inc. reported the third quarter ended September 30, 2023 results: revenue $637 million, EPS $1.44 per diluted share.

Period: the third quarter ended September 30, 2023
Revenue: $637 million
EPS: $1.44 per diluted share
Result: reported results

Exact text from the filing

Adjusted Operating Income margin of 28% was consistent with the prior year period. Adjusted Operating Income benefited from continued cost management measures. • Net revenues of $637 million decreased 7% from the prior year, largely driven by lower domestic advertising revenues and affiliate revenues, partly offset by streaming revenue growth. • Streaming revenues of

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Source: SEC EDGAR

accession 0001514991-23-000041

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