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AMC Networks Beats Revenue Estimates

AMC Networks Inc AMCX 6.78% released its Q2 results before the open on Thursday. Earnings per share came in-line with Wall Street consensus expectations.

AMC Networks reported EPS of $1.28 and revenues of $685 million. Analyst consensus had an EPS estimate of $1.28 and revenues of $676.9 million.

"AMC Networks delivered strong financial and operating results in the second quarter with double-digit growth in revenues, operating income and AOCF driven by increases in both advertising and distribution revenues at our National Networks. Our acclaimed and popular shows including The Walking Dead, Better Call Saul and Orphan Black, are being watched across multiple platforms and create network and programming brands that are highly sought after by advertisers, distributors and consumers," said Josh Sapan, CEO and President.

"We remain confident that our approach is the right one to succeed in a highly competitive and consolidating entertainment marketplace, and we remain focused and committed to continuing to create and deliver value for our shareholders," stated Sapan.

At time of writing, AMC Networks traded flat at $56.33 in Thursday's pre-market session.

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