AMC网络利润暴跌80%，首席执行官说流媒体现在是“最大的收入来源”

AMC Networks (NASDAQ: AMCX) reported mixed fiscal third-quarter 2025 results on Friday.

The company reported a 6.3% year-over-year decline in quarterly revenue to $561.74 million, beating the analyst consensus estimate of $549.01 million.

The entertainment company's adjusted EPS of 18 cents fell 80.2% Y/Y and missed the analyst consensus estimate of 28 cents.

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 Domestic Operations Segment: Domestic operations revenues decreased 8% to $485.72 million.

Subscription revenues remained flat at $316.24 as growth in streaming revenues offset declines in affiliate revenues.

Streaming revenues increased 14% to $174 million, primarily driven by price increases across its services.

Streaming subscribers increased 2% to 10.4 million as compared to 10.2 million subscribers at September 30, 2024, and March 31, 2025.

Affiliate revenue decreased 13% to $142 million due to basic subscriber declines and, to a lesser extent, contractual rate decreases associated with renewals.

Advertising revenues decreased 17.4% Y/Y to $110.33 million, driven by linear ratings declines and lower marketplace pricing. 

Content licensing revenues declined 26.7% to $59.45 million primarily due to the timing and availability of deliveries.

International Segment: International revenues increased 4.7% to $77.14 million.

The consolidated adjusted operating income decreased 28.2% to $94.45 million.

Operating cash flow for the quarter fell 28.0% YoY to $44.83 million, while the free cash flow declined 22.1% to $42 million.

AMC Networks ended the quarter with a cash and equivalents balance of $716.84 million.

CEO Kristin Dolan said the third quarter marked a major step in the company's shift from a traditional cable network to a global streaming and technology-driven content business. She noted that streaming revenue growth accelerated and will become the company's largest source of domestic revenue this year. Dolan emphasized that the company generated strong free cash flow and remains on track to meet its higher full-year target of $250 million.

Price Action: At last check Friday, AMC Networks’ stock is trading lower by 0.14% at $7.24 premarket.

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