AMC Networks Reports Better-than-expected Q2 Earnings

AMC Network Inc. shares jumped 3% after the company reported better-than-expected second-quarter earnings, beating on profit. AMC reported a profit of $83 million, or $1.14 earnings per share, compared with $59 million, or 83 cents per share earnings in the same period a year ago. Adjusted EPS for the second quarter was $1.23, FactSet consensus was 91 cents. AMC reported an increase in revenue, up 15% to $601 million vs. $522 million in the year prior period. FacSet consensus on revenue was $588 million. AMC Network shares are up 23% in the year to date. The S&P is up 2%.