AMC Networks posts 2Q profit, results top Wall Street forecasts

MarketsAssociated Press

AMC Networks Inc. (AMCX) on Thursday reported second-quarter net income of $83 million.

The New York-based company said it had profit of $1.14 per share.

Continue Reading Below

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The owner of cable channels including AMC and IFC posted revenue of $601.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $596.6 million.

AMC Networks shares have risen 23 percent since the beginning of the year. The stock has risen 32 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMCX at http://www.zacks.com/ap/AMCX

_____

Keywords: AMC Networks, Earnings Report