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AMC Networks (AMCX) Q2 Earnings Beat Estimates, Revenues Lag
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AMC Networks Inc. (AMCX - Free Report) reported mixed financial results in the second quarter of 2017. The bottom line outpaced the Zacks Consensus Estimate while the top line fell below the mark.
Net income was $102.6 million or $1.54 per share compared with $77.2 million or $1.05 per share in the prior-year quarter. However, quarterly adjusted earnings per share of $1.88 surpassed the Zacks Consensus Estimate of $1.41.
Quarterly total revenue of $710.5 million was up 3.8% year over year lagging the Zacks Consensus Estimate of $715 million. National Networks revenues were $604.9 million, up 5.6% year over year. International and Other revenues totaled $110.8 million, down 6.3% year over year.
Quarterly total adjusted operating income (AOI) was $228.6 million, up 8.2% year over year. National Networks AOI grossed $232.2 million, up 12.5% while International and Other AOI totaled $1 million, down 87.8%.
Operating costs and expenses totaled $534.8 million compared with $506.8 million in the prior year quarter. Operating income was $175.8 million, down 1.3% year over year. Operating margin was 24.7% compared with 26% in the prior-year quarter.
In the first half of 2017, AMC Networks generated $166 million of cash from operations compared with $229.6 million in the year-ago period. Free cash flow in the reported period was $113.1 million compared with $196.4 million in the prior-year period. At the end of second-quarter 2017, the company had $189.5 million of cash and cash equivalents and $2,747 million of debt outstanding.
AMC Networks Inc. Price, Consensus and EPS Surprise
AMC Networks competes in the highly competitive broadcast radio and television industry. Its major competitors like CBS Corp. , Gray Television Inc. (GTN - Free Report) and Entercom Communications Corp. . AMC Networks currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
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AMC Networks (AMCX) Q2 Earnings Beat Estimates, Revenues Lag
AMC Networks Inc. (AMCX - Free Report) reported mixed financial results in the second quarter of 2017. The bottom line outpaced the Zacks Consensus Estimate while the top line fell below the mark.
Net income was $102.6 million or $1.54 per share compared with $77.2 million or $1.05 per share in the prior-year quarter. However, quarterly adjusted earnings per share of $1.88 surpassed the Zacks Consensus Estimate of $1.41.
Quarterly total revenue of $710.5 million was up 3.8% year over year lagging the Zacks Consensus Estimate of $715 million. National Networks revenues were $604.9 million, up 5.6% year over year. International and Other revenues totaled $110.8 million, down 6.3% year over year.
Quarterly total adjusted operating income (AOI) was $228.6 million, up 8.2% year over year. National Networks AOI grossed $232.2 million, up 12.5% while International and Other AOI totaled $1 million, down 87.8%.
Operating costs and expenses totaled $534.8 million compared with $506.8 million in the prior year quarter. Operating income was $175.8 million, down 1.3% year over year. Operating margin was 24.7% compared with 26% in the prior-year quarter.
In the first half of 2017, AMC Networks generated $166 million of cash from operations compared with $229.6 million in the year-ago period. Free cash flow in the reported period was $113.1 million compared with $196.4 million in the prior-year period. At the end of second-quarter 2017, the company had $189.5 million of cash and cash equivalents and $2,747 million of debt outstanding.
AMC Networks Inc. Price, Consensus and EPS Surprise
AMC Networks Inc. Price, Consensus and EPS Surprise | AMC Networks Inc. Quote
AMC Networks competes in the highly competitive broadcast radio and television industry. Its major competitors like CBS Corp. , Gray Television Inc. (GTN - Free Report) and Entercom Communications Corp. . AMC Networks currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>