crushed earnings estimates in the fourth quarter, sending the stock sharply higher in premarket trading Friday.
The global entertainment company that owns cable networks including Sundance TV, and streaming services reported adjusted earnings of $2.52 per share on revenue of $965 million in the final three months of the year, both comfortably ahead of estimates.
Analysts were expecting EPS of $1.02 on sales of $934 million, according to those surveyed by FactSet.
AMC (ticker:AMCX) named longtime board member Kristin Dolan as its new CEO earlier this week, after Christina Spade abruptly stepped down in November after less than three months in the job. Dolan, who is married to but separated from the company’s owner James Dolan, will take up the post on Feb.27.
The stock pointed 5% higher at $21.62 in premarket trading. The shares have climbed more than 30% since the beginning of the calendar year, as of Thursday’s close, but are down 47% over the past year.
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