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AMC Networks Takes $97M Impairment Hit In Q2, Reaffirms Strong Free Cash Flow Outlook

AMC Networks Inc (NASDAQ:AMCX) reported a fiscal second-quarter 2024 revenue decline of 7.8% year over year to $625.9 million, beating the analyst consensus estimate of $601.3 million. The American entertainment company’s adjusted EPS of $1.24 fell 38.6% year over year and missed the analyst consensus estimate of $1.52.  Domestic Operations: Affiliate revenue decreased 12% to $172 million due to basic subscriber declines. Advertising revenues decreased 11% Y/Y to $149 million due to anticipated linear ratings declines and a challenging ad market.  Content licensing revenues declined 18% to $67 ...