AMC Networks Q2 2024 Adj. EPS $1.24 Misses $1.52 Estimate, Sales $625.940M Beat $601.343M Estimate
Portfolio Pulse from Benzinga Newsdesk
AMC Networks (NASDAQ:AMCX) reported Q2 2024 earnings per share of $1.24, missing the analyst estimate of $1.52 by 18.42%. However, the company beat sales estimates with $625.94 million, a 4.09% increase over the expected $601.343 million. Despite this, both earnings and sales were down compared to the same period last year.
August 09, 2024 | 11:03 am
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AMC Networks reported Q2 2024 earnings per share of $1.24, missing the analyst estimate of $1.52 by 18.42%. Sales were $625.94 million, beating the estimate of $601.343 million. Both earnings and sales were down compared to the same period last year.
The significant miss on EPS is likely to negatively impact the stock price in the short term, despite the sales beat. The year-over-year decline in both earnings and sales further adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100