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AMC Networks Takes $97 Million Hit to Balance Sheet in Q2 on Devaluation of International Business, BBC America
AMC Networks reported its second-quarter 2024 earnings Friday, revealing an 11% drop in U.S. ad sales, but a slight increase in streaming subscribers to 11.6 million.
Wall Street forecast earnings per share (EPS) of $1.52 on $601 million in revenue, according to analyst consensus data provided by LSEG, formerly Refinitiv. “AMC Networks continues to find opportunities in a strategic plan built around programming, partnerships and profitability,” CEO Kristin Dolan said in a letter to shareholders. “Key to our plan is the creation and curation of celebrated films and series, and making them available to audiences everywhere, including through an exciting new branded content licensing agreement with Netflix.
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