Shares of AMC Networks Inc. (NASDAQ: AMCX) soared in pre-market trading at the time of writing on Tuesday after the global entertainment company reported adjusted earnings of $2.62 per share, up by 3.1% year-over-year and beating analysts’ expectations of $1.87 per share.
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The company posted revenues of $717.5 million in Q1, up by 0.7% year-over-year, and exceeded consensus forecasts of $696.6 million. At the end of Q1, AMC’s streaming subscribers rose 22% year-over-year to 11.5 million.
Analysts are, however, bearish about AMCX stock with a Moderate Sell rating based on three Holds and two Sells.