AMC Networks Beats On Revenue, Driven By AMC Advertising

AMC Networks Inc. shares are up 1% in premarket trading after the company announced revenue that beat expectations, driven by advertising on the AMC channel. AMC said it had net income of $90 million, or $1.23 per share, in the fourth quarter, up from $78 million, or $1.06 per share, for the same period last year. The FactSet consensus was $1.23. Revenue for the quarter was $679 million, up from $609 million last year and exceeding the FactSet consensus of $675 million. AMC's networks include AMC, WE tv, BBC America, IFC and SundanceTV. Revenue growth was led by a 13.4% increase in advertising revenue to $289 million, the company said in a Thursday release, largely from AMC, which airs programs including "The Walking Dead" and "Better Call Saul." AMC Networks shares are down 5.2% for the year so far, but up 2.4% for the past year. The S&P 500 is is down 5.6% for the year-to-date.