AMC Networks (AMCX) Misses Q2 Earnings Estimates

Core Viewpoint - AMC Networks reported quarterly earnings of $1.24 per share, missing the Zacks Consensus Estimate of $1.38 per share, and down from $2.02 per share a year ago, indicating a significant decline in profitability [1] - The company’s revenues for the quarter were $625.93 million, surpassing the Zacks Consensus Estimate by 4.10%, but down from $678.63 million year-over-year [1] Financial Performance - The earnings surprise for the latest quarter was -10.14%, and the company had a prior quarter surprise of -35.20% [1] - Over the last four quarters, AMC Networks has exceeded consensus EPS estimates two times [1] - The current consensus EPS estimate for the upcoming quarter is $1.54, with expected revenues of $594.73 million, and for the current fiscal year, the estimate is $4.93 on $2.41 billion in revenues [4] Stock Performance - AMC Networks shares have declined approximately 45.2% since the beginning of the year, contrasting with the S&P 500's gain of 11.5% [2] - The stock currently holds a Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Outlook - The Broadcast Radio and Television industry, to which AMC Networks belongs, is currently ranked in the bottom 30% of over 250 Zacks industries, suggesting a challenging environment for stock performance [5] - Historical data indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [5]