AMC Networks Misses Q1 Revenue Estimates as US Ad Sales Drop 7%

AMC Networks Misses Q1 Revenue Estimates as US Ad Sales Drop 7%
But the company smashed Wall Street’s earnings expectations
Jennifer Maas | May 7, 2021 @ 4:22 AM
Josh Stringer/AMC
AMC Networks missed revenue expectations for the first quarter of 2021, when the company’s U.S. ad sales dropped 7%, according to its Q1 2021 earnings report released Friday.
However, AMC Networks smashed Wall Street’s earnings estimates for the quarter and also says its on track to hit its projected 9 million paid streaming subscribers target by the end of the year.
Wall Street forecast earnings per share (EPS) of $1.87 on $722.32 million in revenue, according to a consensus compiled by Yahoo Finance. AMC Networks reported adjusted EPS of $2.98 on $692 million in revenue.

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