AMC Networks: 2Q Earnings Snapshot
NEW YORK (AP) _ AMC Networks Inc. (AMCX) on Thursday reported second-quarter net income of $106.2 million.
The New York-based company said it had profit of $1.82 per share. Earnings, adjusted for amortization costs, were $1.93 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The owner of cable channels including AMC and IFC posted revenue of $761.4 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $730.8 million.
AMC Networks shares have risen 12 percent since the beginning of the year. The stock has dropped roughly 5 percent in the last 12 months.