Shares of entertainment products and solutions provider AMC Networks (NASDAQ:AMCX) are rising higher today on the back of a robust fourth-quarter showing.
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Revenue rose 20% year-over-year to $964.5 million, outperforming estimates by ~$27.5 million. EPS at $2.52 too came in ahead of consensus by a whopping $1.50. This uptick came on the back of a double-digit growth in domestic operations, which offset headwinds in the international segment.
Moreover, the company’s content licensing revenues saw a 152% increase in Q4. Overall, Wall Street has a consensus price target of $18.50 on AMCX, implying a 23.8% potential downside in the stock. That’s after a 29% price surge in AMCX shares so far this year.
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