AMC Global Media Stock Drops On Q2 Earnings Miss

News Source : Deadline

News Summary

AMC Global Media also reported second-quarter results below Wall Street ‘s expectations.
Shares in the media company sank 6% on the earnings news in pre-market trading.
Total revenue slid 9% from the year-earlier quarter, coming in at $547.5 million.
Domestic advertising revenue slumped 11% to $109 million, though the company cited “the one-time impact of a now resolved system integration issue” The company is raising its full-year guidance, though details were to be laid out on a conference call with analysts later in the morning.

As it announced a $500 million renewal of The Walking Dead with Netflix, AMC Global Media also reported secondquarter results below Wall Streets expectations.

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