{"id":171201,"date":"2023-02-17T15:27:11","date_gmt":"2023-02-17T15:27:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=171201"},"modified":"2023-02-17T15:27:11","modified_gmt":"2023-02-17T15:27:11","slug":"amc-networks-rallies-as-q4-earnings-beat-estimates","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/amc-networks-rallies-as-q4-earnings-beat-estimates\/","title":{"rendered":"AMC Networks Rallies As Q4 Earnings Beat Estimates"},"content":{"rendered":"
Shares of AMC Networks Inc. (AMCX), an entertainment<\/span> company, are rising more than 17% Friday morning after reporting better-than-expected fourth-quarter results.<\/p>\n Excluding one-time items, the company reported earnings of $110.55 million or $2.52 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.2 per share.<\/p>\n AMC Networks, however, posted a net a loss of $264.69 million or $6.11 per share in the fourth quarter, compared with profit of $17.04 million or $0.39 per share a year ago, primarily due to charges related to restructuring, that the company had initiated in November last year.<\/p>\n Quarterly revenues increased 20% year-on-year to $964.52 million. The consensus estimate stood at $947.78 million.<\/p>\n AMCX, currently at $24.09, has traded in the range of $14.45-$44.05 in the last 1 year. <\/p>\n