AMC Networks Beats Profit, Sales Expectations

AMC Networks reported on Thursday a fourth-quarter profit of $77.6 million, or $1.06 a share, up from $35.4 million, or $49 cents a share, in the year-earlier period, and above the FactSet consensus analyst estimate for per-share earnings of $1. Sales increased 40% to $609.4 million, with revenue from its national networks business rising 20% to $500 million, beating FactSet consensus estimates of $603 million and $487.5 million, respectively. "The strong performance of our original programming with record ratings at our national networks has led to continued increases in affiliate fees and advertising revenues," said Chief Executive Josh Sapan. The stock, which was inactive in premarket trade, has climbed 8.1% over the past three months, while the S&P 500 has gained 2%.