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AMC Networks Soars Past Wall Street Q3 Expectations As Interim CEO Matt Blank Takes Reins
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deadline.comIn the midst of a major management change, AMC Networks reported third-quarter results well ahead of Wall Street expectations.The cable programmer and niche streaming operator said it earned $2.68 per share on an adjusted basis, double the performance of a year ago and more than twice the Street estimate of $1.22.
Revenue climbed 24% to $810.8 million, far better than the forecast for $706.1 million.Content licensing was a major plus in the quarter, with revenue jumping 60%, which the company said was due to a higher number of distributed original programs compared with a year ago.
The period also benefited from production resuming after Covid shutdowns in 2020.Subscription revenues increased 14%, with higher streaming revenue and gains in
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