AMC Networks Inc. Class A Stock News

AMC Networks Inc. (NASDAQ:AMCX ) Q3 2024 Earnings Conference Call November 8, 2024 10:00 AM ET Company Participants Nicholas Seibert - Vice President of Corporate Development & Investor Relations Kristin Dolan - Chief Executive Officer Patrick O'Connell - Chief Financial Officer Kim Kelleher - Chief Commercial Officer Dan McDermott - President of Entertainment and AMC Studios Conference Call Pa...

AMC Networks said a new partnership with Netflix is helping boost streaming subscribers and revenue as it posted third quarter financials that were down from the year earlier but beat Wall Street forecasts.

Shares in AMC Networks, which have declined by more than 50% in 2024 to date, gained 3% Friday after the company posted third-quarter results ahead of Wall Street analysts' expectations. Revenue slumped 6% in the quarter ended September 30 compared with the year-earlier period, coming in at $599.6 million.

AMC Networks has rolled up BBC America, paying $42 million in cash for the cable network. The news was disclosed in the company's third-quarter earnings release. The transaction, which gives AMC Networks the 50.1% of the network that it did not previously have, closed November 1.

NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (NASDAQ: AMCX) today reported financial results for the third quarter ended September 30, 2024.

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NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (NASDAQ: AMCX) will host a conference call to discuss results for the third quarter 2024 on Friday, November 8, 2024 at 10:00 a.m. Eastern Time. AMC Networks will issue a press release reporting its results before the market opening.

AMC Networks faces significant challenges from cord-cutting trends and a heavy debt load, leading to market pessimism and fears of bankruptcy. Declining non-streaming subscription revenues and rising interest expenses have pressured AMC Networks' financial performance since 2022. The company's reliance on a few major shows and potential future dilution from convertible bonds add to the risks.