AMC Networks reported a Q2 2024 net loss due to impairment charges, with revenue decline but increased streaming subscribers and revenue.
AMC Networks reported Q2 2024 net loss of $29.2 million, due to $97M in impairment charges, including $68M for goodwill at AMC Networks International UK and $29M for long-lived assets at BBC America. Revenue fell 7.8% YoY to $625.9M, but streaming subscribers rose 5% to 11.6M, and streaming revenue increased 9% to $150M. Despite challenges in linear TV, the company's CEO expressed optimism about cash flow generation and partnership with Netflix.
August 09, 2024
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