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Jun 30
AMC Q2 2025 Earnings Report
AMC Networks reported lower revenue and adjusted earnings in Q2 2025, with streaming growth offset by declines in linear TV and international operations.
Key Takeaways
AMC Networks posted $600 million in revenue for Q2 2025, down 4% year-over-year, as streaming revenues grew but affiliate and advertising revenues fell. EPS rose to $0.91 from a loss last year, while adjusted EPS fell sharply to $0.69. The company generated strong free cash flow and improved its balance sheet by reducing debt.
Revenue decreased 4% year-over-year to $600 million.
EPS improved to $0.91 from $(0.66) last year; adjusted EPS fell to $0.69.
Streaming revenues rose 12% to $169 million with subscribers reaching 10.4 million.
Debt reduced by approximately $400 million since March 31, 2025.
AMC
AMC
AMC Revenue by Segment
AMC Revenue by Geographic Location
Revenue by Segment
Domestic Ops Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
AMC Networks increased its full-year 2025 free cash flow outlook to approximately $250 million, citing strong streaming growth and operational efficiencies.
Positive Outlook
- Raised full-year free cash flow outlook to ~$250 million
- Streaming revenue growth momentum
- Successful debt reduction initiatives
- Expanded FAST channel offerings
- Strong content licensing performance
Challenges Ahead
- Ongoing declines in affiliate revenue
- Advertising revenue pressure from lower ratings and CPMs
- International revenue drop due to prior-year adjustments
- Adjusted operating income down 28% year-over-year
- Adjusted EPS significantly below prior year