Shares Of AMC Networks Surge As Q2 Results Show Improved Adjusted EBITDA And Strong Operating Cash Flow
Portfolio Pulse from Anusuya Lahiri
AMC Networks Inc. reported a Q2 FY23 revenue decline of 8% YoY to $678.63 million, missing the consensus of $717.48 million. Adjusted operating income decreased 10% to $177 million. However, adjusted EBITDA improved by $68.8 million to $7.1 million and operating cash flow increased to $158 million, up from $41 million a year ago. AMC shares surged 17.35% higher to $14.41 during early trading on Friday.
August 04, 2023 | 3:31 pm
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AMC Networks reported a Q2 FY23 revenue decline but saw improved adjusted EBITDA and strong operating cash flow. Shares surged 17.35% in early trading.
Despite the revenue decline, AMC Networks' improved adjusted EBITDA and strong operating cash flow indicate a positive financial performance. This has led to a surge in the company's share price, suggesting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100