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AMC Networks (AMCX) Q4 Earnings Beat, Revenues Lag Estimates
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AMC Networks (AMCX - Free Report) reported mixed results in the fourth quarter of 2017. While the company’s bottom line surpassed the Zacks Consensus Estimate, the top line missed the same.
AMC Networks operates in the highly competitive broadcast radio and television industry. Its major competitors are CBS Corp. , Gray Television Inc. (GTN - Free Report) and Entercom Communications Corp. .
Net income in the quarter was $145.5 million or $2.33 per share compared with $14.5 million or 20 cents in the prior-year quarter. Moreover, quarterly adjusted earnings per share of $1.68 surpassed the Zacks Consensus Estimate of $1.49.
AMC Networks Inc. Price, Consensus and EPS Surprise
Quarterly total revenues of $726.9 million were down 0.4% year over year. The figure also missed the Zacks Consensus Estimate of $729.6 million. National Networks revenues were $606.1 million, down 1.3% year over year. International and Other revenues totaled $126.8 million, up 6.9% year over year.
Quarterly total adjusted operating income (“AOI”) was $205.5 million, down 3.4% year over year. National Networks’ AOI grossed $195.1 million, down 5.2%, while International and Other AOI totaled $5.9 million, up 32.2%.
Operating costs and expenses totaled $565.4 million compared with $625.8 million in the prior-year quarter. Operating income was $161.5 million, up 55.7% year over year.
In 2017, AMC Networks generated $385.7 million of cash from operations compared with $514.3 million at the end of 2016. Free cash flow in the reported period was $287.1 million compared with $426.1 million at the end of December 2016. At the end of the reported quarter, the company had $558.8 million of cash and cash equivalents and $3.150 million of debt outstanding.
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AMC Networks (AMCX) Q4 Earnings Beat, Revenues Lag Estimates
AMC Networks (AMCX - Free Report) reported mixed results in the fourth quarter of 2017. While the company’s bottom line surpassed the Zacks Consensus Estimate, the top line missed the same.
Currently, AMC Networks is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMC Networks operates in the highly competitive broadcast radio and television industry. Its major competitors are CBS Corp. , Gray Television Inc. (GTN - Free Report) and Entercom Communications Corp. .
Net income in the quarter was $145.5 million or $2.33 per share compared with $14.5 million or 20 cents in the prior-year quarter. Moreover, quarterly adjusted earnings per share of $1.68 surpassed the Zacks Consensus Estimate of $1.49.
AMC Networks Inc. Price, Consensus and EPS Surprise
AMC Networks Inc. Price, Consensus and EPS Surprise | AMC Networks Inc. Quote
Quarterly total revenues of $726.9 million were down 0.4% year over year. The figure also missed the Zacks Consensus Estimate of $729.6 million. National Networks revenues were $606.1 million, down 1.3% year over year. International and Other revenues totaled $126.8 million, up 6.9% year over year.
Quarterly total adjusted operating income (“AOI”) was $205.5 million, down 3.4% year over year. National Networks’ AOI grossed $195.1 million, down 5.2%, while International and Other AOI totaled $5.9 million, up 32.2%.
Operating costs and expenses totaled $565.4 million compared with $625.8 million in the prior-year quarter. Operating income was $161.5 million, up 55.7% year over year.
In 2017, AMC Networks generated $385.7 million of cash from operations compared with $514.3 million at the end of 2016. Free cash flow in the reported period was $287.1 million compared with $426.1 million at the end of December 2016. At the end of the reported quarter, the company had $558.8 million of cash and cash equivalents and $3.150 million of debt outstanding.
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 4 crypto-related stocks now >>