AMC Global Media Reports Q3 Revenue Miss, Adjusted EPS Beat and Walking Dead Settlement
AMC Global Media reported third-quarter revenue of $566.1 million, up less than 1% from the prior-year period but below Wall Street expectations. Adjusted earnings were $0.44 per share, ahead of expectations for a loss of 1 cent per share. The company also completed the profitable sale of Allblk, recorded a $2.1 million transaction charge, and agreed to pay $120 million to settle a Walking Dead lawsuit, with an $85 million charge in the quarter.
Why it matters
The revenue shortfall and legal-settlement charge weigh on AMC Global Media's quarter, while the adjusted EPS result was better than expected. The company plans to use AMC+ exclusive material and a broader licensing arrangement with Netflix to extend the Walking Dead franchise.
Key facts
- 1Third-quarter revenue was $566.1 million and increased less than 1% from the prior-year period. deadline.com
- 2Adjusted earnings were $0.44 per share versus expectations for a loss of 1 cent per share. deadline.com
- 3AMC Global Media recorded a $2.1 million charge related to the Allblk sale. deadline.com
- 4The company agreed to pay $120 million to settle Walking Dead breach-of-contract claims and recorded an $85 million charge in the quarter. deadline.com
- 5AMC+ will carry the original Walking Dead series, its spinoffs and additional franchise content under the company's broader licensing arrangement with Netflix. deadline.com
Summary written by AlphAI AI Desk from 1 of 2 sources. Not investment advice. Figures are as stated by the linked sources.