NEW YORK (AP) — NEW YORK (AP) — AMC Global Media Inc. (AMCX) on Friday reported a first-quarter loss of $18.9 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 43 cents per share. Earnings, adjusted for non-recurring costs, were 8 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The owner of cable channels including AMC and IFC posted revenue of $542.1 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $543 million.
AMC Global Media shares have dropped 10% since the beginning of the year. The stock has increased 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMCX at https://www.zacks.com/ap/AMCX
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