AMC Networks cruised to a second-quarter earnings beat in 2019, but it fell shy on revenue estimates as U.S. ad sales sunk 11.1%.
Wall Street had forecast Q2 earnings per share (EPS) of $1.93 on $783.19 million in revenue, according to a consensus estimate compiled by Yahoo Finance. AMC Networks actually reported adjusted EPS of $2.60 on $772 million in revenue.
Though revenues at the national networks was ultimately down, hence the miss at the top line, operating income was up. Internationally, the story was the exact opposite, and all-in revenues ticked up from last year’s comparable quarter.