In this article we discuss AMC Networks stock breaking above its 200 day moving average line after eye-popping EPS and revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... beats for Q4.
AMC Networks is an entertainment company that owns and manages a variety of video entertainment products that are distributed to audiences and used as a platform by distributors and advertisers both domestically and abroad. Domestic Operations and International and Other are the two business divisions. The Domestic Operations segment manages a number of national television networks, such as AMC, WE tv, BBC AMERICA, IFC, and SundanceTV; offers subscription streaming services, such as Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE; and operates AMC and other streaming initiatives. It also operates an IFC Films-branded film distribution company. In addition to providing services to the national programming networks, this segment also creates and grants original programming licenses to a number of programming networks. The International and Other business unit runs a number of channels under the AMCNI brand, as well as production and comedy venues under the Levity brand.
AMC Networks Stock
AMC Networks stock broke above its 200 day moving average on February 17, 2023, after the company reported its quarterly financials.
AMC networks stock price rocketed up 32% after punching through its 200 day moving average. AMC networks stock currently trades 38% below its 52-week high.
AMC Networks Reports Fourth Quarter Beats on EPS and Revenue
AMC Networks reported Q4 adjusted EPS of $2.52 versus the consensus estimate of $1.20. The company reported Q4 revenue of $964.52M versus the consensus estimate of $947.78M.
AMC Networks Interim Executive Chairman James Dolan said: “AMC Networks is focused on maximizing the value of our high-quality, popular content through optimized content monetization as we reduce costs and drive cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves.... We believe this approach will position the company well to navigate current industry dynamics and enable us to generate long-term shareholder value.”
- Launched new Anne Rice Universe franchise with Anne Rice’s Interview with the Vampire, which became the #1 new series launch in AMC+ history and the #2 new basic cable drama in 2022.
- Kicked off 2023 with the second series in the franchise, Anne Rice’s Mayfair Witches, which is pacing to become the most viewed single season of any show on AMC+, topping Interview’s performance, and is a Top 10 cable drama in the current broadcast season.
- Renewed both Anne Rice’s Interview with the Vampire and Anne Rice’s Mayfair Witches for second seasons.
- Premiered the final season of The Walking Dead, which concluded with AMC+’s highest single day of viewership ever and which commanded the series’ highest pricing in its 11-year run, demonstrating high audience engagement and advertiser demand for the franchise.
- Bringing fans of The Walking Dead Universe a new season of Fear the Walking Dead and two new series: The Walking Dead: Dead City and The Walking Dead: Daryl Dixon, in 2023.
- Renewed WE tv franchise hits Love After Lockup, Life After Lockup, Love During Lockup and Growing Up Hip Hop for new seasons.
- Renewed six multi-year carriage agreements, with Charter, Altice, Philo, Mediacom and WOW! for continued carriage of U.S. channel portfolio and with Bell for continued carriage of AMC in Canada.
- Tested innovative new pricing and packaging offer with Verizon’s +play Early Access, where Verizon mobile and 5G Home customers were offered 12 months of Netflix Premium for free with the purchase of a 12-month subscription to AMC+.