AMC Networks: Fourth Quarter Earnings Overview

AMC Networks Reports Fourth Quarter Financial Results

AMC Networks Inc., headquartered in New York, announced a net loss of $55.5 million for the fourth quarter.

During this period, the company recorded a loss of $1.26 per share. However, after accounting for non-recurring items, adjusted earnings stood at 64 cents per share.

These adjusted earnings surpassed analysts' expectations, as a consensus of three analysts polled by Zacks Investment Research had predicted earnings of 50 cents per share.

The media company, which operates cable networks such as AMC and IFC, generated $594.8 million in revenue for the quarter, outperforming the $577.5 million forecasted by analysts surveyed by Zacks.

For the full year, AMC Networks reported a net profit of $89.4 million, or $1.66 per share, marking a return to profitability. Annual revenue reached $2.31 billion.

Since the start of the year, AMC Networks' stock price has dropped by 21%. At the close of trading on Wednesday, shares were valued at $7.50, reflecting a 23% decrease over the past year.

This article was produced by Automated Insights using data provided by Zacks Investment Research.