AMC Global Media Stock Drops On Q2 Earnings Miss

As it announced a $500 million renewal of The Walking Dead with Netflix, AMC Global Media also reported second-quarter results below Wall Street‘s expectations.

Shares in the media company, which have revived recently, sank 6% on the earnings news in pre-market trading. They have risen more than 70% over the past year.

Total revenue slid 9% from the year-earlier quarter, coming in at $547.5 million. The company swung to an adjusted net loss of 28 cents a share from a profit of 69 cents a share in the 2025 period.

Wall Street analysts’ consensus estimates were for revenue of $554.6 million and a loss of 7 cents a share.

Programming during the quarter included The Vampire Lestat. The Anne Rice property has drawn praise from critics.

Domestic advertising revenue slumped 11% to $109 million, though the company cited “the one-time impact of a now resolved system integration issue” in the quarter. Excluding that problem, the decline would have been in the mid-single digits, with lower ratings and pricing partially offset by digital ad growth.

Subscription revenue dipped 5% to $306 million, primarily due to a decline in affiliate revenue. Streaming revenue countered the downturn, rising 6% to $180 million. The company highlighted in the earnings release that streaming accounted for one-third of total revenue in the quarter.

Affiliate revenue fell 17% to $126 million, with the company blaming basic subscriber declines. Content licensing revenue dropped 34% to $56 million due to timing and availability of titles.

International revenue perked up 4% to $79 million.

CEO Kristin Dolan said in the release the company was raising its full-year guidance, though details were to be laid out on a conference call with analysts later in the morning. She said the move comes “as we leverage the value of our IP, the importance of our studio and the strength of our partner relationships, particularly in the area of distribution.”

The release noted distribution agreements over the past year with top U.S. pay-TV operators Comcast, DirecTV, Dish and YouTube TV.