AMC Posts In-Line 2Q; Scripted Content Remains the Main Revenue Driver
AMC posted a mostly in-line second quarter as revenue and EBITDA met our expectations. Top-line growth of 4% was driven by affiliate fee growth in the U.S., which offset weak advertising growth and declines in the international segment. Management reiterated its full-year outlook for 2017. We are maintaining our narrow moat rating and $78 fair value estimate. With shares trading just inside 4-star territory, the current price may provide investors with an attractive entry point.Total net revenu...
AMC Networks is a holding company. Through its subsidiaries, the company is engaged in owning and operating entertainment businesses and assets. The company's operating segments are: National Networks, which includes activities of the company's programming businesses, which include programming networks such as AMC, WE tv, BBC AMERICA, IFC, and SundanceTV in the U.S., and AMC and IFC in Canada; and International and Other, which includes AMC Networks International, the company's international programming businesses consisting of a portfolio of channels; IFC Films, the company's independent film distribution business, and its subscription streaming services Acorn TV and UMC, Shudder and Sundance Now.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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