Q2 25 EPS
$0.69
BEAT +12.97%
Est. $0.61
Q2 25 Revenue
$600.0M
BEAT +2.92%
Est. $583.0M
vs S&P Since Q2 25
+23.3%
BEATING MARKET
AMCX +39.6% vs S&P +16.3%
Market Reaction
Did AMCX Beat Earnings? Q2 2025 Results
AMC Networks delivered a stronger-than-expected second quarter, posting adjusted EPS of $0.69 against a consensus estimate of $0.61, a 12.97% beat, while revenue of $600.02 million edged past the $582.99 million estimate by 2.92%, even as total net r… Read more AMC Networks delivered a stronger-than-expected second quarter, posting adjusted EPS of $0.69 against a consensus estimate of $0.61, a 12.97% beat, while revenue of $600.02 million edged past the $582.99 million estimate by 2.92%, even as total net revenues slipped 4.1% year-over-year. The clearest driver behind the upside was a 12% surge in streaming revenue to $169.00 million, fueled by price increases across the company's services, which helped offset a 12% decline in linear affiliate revenues and an 18% drop in advertising. Content licensing added further cushion, climbing 26% to $84.00 million on catalog sales and fees tied to Apple TV+'s Silo. Away from the income statement, AMC Networks executed an aggressive debt restructuring that reduced gross debt by roughly $400.00 million since late March, with management raising its full-year 2025 free cash flow outlook to approximately $250.00 million. In a broadly improving market backdrop, the company also cited 25%-plus growth in digital advertising commitments during current Upfront negotiations as an encouraging forward signal.
Key Takeaways
- • Streaming revenue growth of 12% driven by price increases across services
- • Content licensing revenue increased 26% including music catalog sale and Silo executive producer fees
- • Linear affiliate revenue declined 12% due to basic subscriber declines and contractual rate decreases
- • Advertising revenue decreased 18% due to linear ratings declines and lower marketplace pricing
- • Streaming subscribers grew 2% to 10.4 million
- • Gain on extinguishment of debt of $25.7 million boosted GAAP results
AMCX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
AMCX Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are executing our clear strategic plan focused on programming, partnerships and profitability. We remain committed to delivering high-quality and distinctive series and films to our engaged fans across all platforms, including the best collection of targeted streaming services in the world. In the second quarter, we saw streaming revenue growth accelerate, strength in content licensing and continued healthy free cash flow generation. We are increasing our free cash flow outlook for 2025 and now expect approximately $250 million of free cash flow for the full year.”
— Kristin Dolan, Q2 2025 Earnings Press Release
AMCX Earnings Trends
AMCX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMCX EPS Trend
Earnings per share: estimate vs actual
AMCX Revenue Trend
Quarterly revenue: estimate vs actual
AMCX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.21 | $0.08 | -62.25% | $542.1M | +0.34% |
| Q4 25 MISS FY | $0.66 | $0.64 | -3.72% | $594.8M | +2.23% |
| FY Full Year | $2.05 | $2.03 | -1.09% | $2.31B | +0.52% |
| Q3 25 MISS | $0.34 | $0.18 | -47.41% | $561.7M | +2.27% |
| Q2 25 BEAT | $0.61 | $0.69 | +12.97% | $600.0M | +2.92% |
| Q1 25 MISS | $0.81 | $0.52 | -35.47% | $555.2M | -2.11% |