Overview

• US media company's Q1 revenue slightly beat analyst expectations, but fell 2% yr/yr

• Adjusted EPS for Q1 missed consensus, declining sharply from last year

• Company to repurchase $30 mln of stock under accelerated share repurchase program

Outlook

• AMC Global Media reiterates its financial outlook for the year

Result Drivers

• STREAMING PRICE INCREASES - Streaming revenues rose 11% yr/yr, mainly due to price increases across services

• AFFILIATE REVENUE DECLINES - Affiliate revenues fell 16% due to basic subscriber declines

• ADVERTISING WEAKNESS - Advertising revenues decreased 5% mainly due to lower marketplace pricing, partially offset by digital advertising growth

Company press release: ID:nGNX5CLrdm

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Slight Beat*	$542.13 mln	$540.73 mln (6 Analysts)
Q1 Adjusted EPS	Miss	$0.08	$0.21 (6 Analysts)
Q1 EPS		-$0.43
Q1 Adjusted Operating Income	Beat	$68.97 mln	$58.51 mln (6 Analysts)
Q1 EBIT		$31.26 mln
Q1 Free Cash Flow		$64.82 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the broadcasting peer group is "buy."

• Wall Street's median 12-month price target for AMC Global Media Inc is $7.00, about 18.2% below its May 7 closing price of $8.56

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.