AMC Networks Sees 44% Growth in Streaming Subscribers in Q3 But Revenue Falls as Ads Slump

Earnings per share tops Wall Street expectations, sending shares higher in premarket trading

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Joe Bel Bruno

AMC Networks grew streaming subscribers by 44% in the third quarter, but saw revenue decline as advertising slumped by 10%, causing profit to fall sharply.

But adjusted earnings per share of $2.09 came in well ahead of the $1.77 per share forecast by Wall Street analysts.

Shares rose 4% to $21.69 premarket trading, despite AMC’s reported revenue of $681.8 million, a drop of 16% from last year’s third quarter, and falling short of the $786.78 million expected by analysts.

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AMC said the revenue drop reflected several factors.

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Eileen AJ Connelly

Eileen AJ Connelly is a veteran journalist and educator who joined TheWrap in 2022 as a business reporter. She’s covered the insurance industry, the real estate industry and Wall Street for a number of publications and previously worked at The Associated Press, Dow Jones Newswires, the Staten Island Advance. She is also an editor at…
Joe Bel Bruno

Joe Bel Bruno

Joe Bel Bruno is TheWrap’s Editor at Large, Business. He most recently served as the Founding Editor of the business news site dot.LA. He was previously the Managing Editor of Variety, and served as Deputy Business Editor and later Deputy Entertainment Editor at the Los Angeles Times. Bel Bruno also ran markets coverage for The…

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