AMC Network Shares Pop Nearly 14% After 'The Walking Dead' Owner Reports Q4 Earnings

By Trey Williams Markets MarketWatch Pulse

Shares of AMC Networks Inc. , the network responsible for zombie-drama hit "The Walking Dead," gained nearly 14% after the company reported fourth-quarter earnings that were better than Wall Street expected. The media and entertainment company reported adjusted earnings of $1.30 per share, which was above the $1.27 per-share consensus from analysts tracked by FactSet. And revenue hit $729.6 million, while FactSet had forecast for $710.0 million in revenue. "['The Walking Dead'] is a powerful example of programming that we own and distribute that commands a loyal audience, attracts advertising revenues and has significant ancillary revenues that will benefit our business for years to come," AMC Chief Executive Josh Sapan said in a statement. Shares of AMC are down nearly 9% in the last 12 months, while the S&P 500 Index is up 23%.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.