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AMC Networks ( AMCX ) stock jumped Thursday after the pay-TV and video streaming content provider reported Q1 revenue and EPS minus items that topped Wall Street views. AMC Networks sells on-demand TV shows to Netflix ( NFLX ) and Amazon.com ( AMZN ). Pay-TV companies such as Comcast ( CMCSA ), meanwhile, pay AMC programming fees for current season shows. AMC Networks stock was up 6% in morning trading in the stock market today , near 67.50. New York-based AMC Networks said Q1 earnings per share minus items rose 13% to $1.99, while revenue increased 5.7% to $707 million. Analysts had modeled $1.89 and $694 million. “AMC Networks beat revenue and EBITDA expectations, boosted by content licensing (likely Hulu) and improving trends internationally,” Stan Meyers, an analyst at Piper Jaffray, said in a research report. AMC Networks’ cable channels include AMC and IFC. Its shows include some big hits, such as “Mad Men,” “Breaking Bad” and “The Walking Dead.” “International revenue was ahead of expectations at $109 million vs. consensus estimate of $107 million,” said Benjamin Mogil, an analyst at Stifel, in a report. Even with Thursday’s gain, AMC Networks stock is still down 9% in 2016. AMC Networks has an IBD Composite Rating of only 37 out of a possible 99. Scalper1 News
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