AMC Networks Q2 Revenue Misses, Loss Wider Than Expected; Guidance Raised on Netflix Deal
AMCX sits 82% above its 52-week low of $5.405.
Summary
AMC Networks reported a messy Q2: revenue fell 9% to $547.5M, missing the $556.7M consensus, and adjusted loss per share of $0.28 was far worse than the $0.07 loss analysts expected. The top-line miss was driven by a 17% drop in domestic affiliate revenue, an 11% decline in advertising, and a 34% plunge in content licensing. Adjusted operating income of $46.1M did beat estimates, but the bottom-line miss is stark. Management raised full-year guidance, citing expanded licensing and renewed distribution deals, and expects $200M-$225M in annual revenue from a Netflix deal in 2026 and 2027. This follows a Q1 that also missed estimates and included a $30M buyback. The stock closed at $10.25 yesterday, well above the $6.50 median analyst target, so the guidance raise may not offset the weak quarter. Watch for analyst downgrades and whether the Netflix revenue materializes as projected.
At the time of this announcement, AMCX was trading at $9.85 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $450.3M. The 52-week trading range was $5.41 to $11.13. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.