'The Walking Dead' Owner AMC Networks Reports Better-than-expected Q4 Earnings

AMC Networks Inc. reported profit and revenue for the fourth quarter on Thursday that came in above Wall Street expectations. Net income for the quarter was $14.5 million, or 20 cents per share, compared with $90.1 million, or $1.23 per share, during the same period a year ago. Adjusted earnings per share were $1.30, above FactSet's consensus of $1.27. Revenue increased 7.5% to $729.6 million in the quarter, compared with $679.0 million in the year-earlier period. Fourth-quarter revenue was above the $710.0 million FactSet had forecast. The media and entertainment company said revenues at its national networks segment, which includes AMC, WE tv and BBC America to name a few, rose 9.2% to $614.1 million. AMC's hit show "The Walking Dead" is the No. 1 show on TV and AMC Chief Executive Josh Sapan said in a statement that it "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." Shares of AMC were inactive in premarket trade, but are down 16% in the last 12 months, while the S&P 500 Index is up 23%.