By Dean Seal
AMC Networks recorded a smaller profit in the first quarter on a lower base of revenue as steady declines in the linear-TV model continue to overwhelm gains in streaming.
The operator of cable channels and streaming networks posted a profit of $18 million, or 34 cents a share, compared with $45.8 million, or $1.03 a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were 52 cents a share. Analysts surveyed by FactSet had been expecting 78 cents a share.
Revenue fell 6.9% to $555.2 million, below analyst views for $569 million, according to FactSet.
Subscription revenue slid 3% in the U.S. due to declines in linear TV subscriptions, though streaming revenue was up 8% thanks to price increases across its services. Subscription revenue outside of the U.S. was down 12%.
Content-licensing revenue in the U.S. fell 13%, missing the boost it got a year earlier from the sale of its rights and interests to the show Killing Eve. Advertising revenue dropped 15% amid declining ratings for linear TV.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 09, 2025 07:23 ET (11:23 GMT)
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