NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported second-quarter earnings of $70.2 million.
On a per-share basis, the New York-based company said it had net income of $1.60. Earnings, adjusted for asset impairment costs and amortization costs, were $2.02 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The owner of cable channels including AMC and IFC posted revenue of $678.6 million in the period.
AMC Networks shares have fallen 22% since the beginning of the year. The stock has decreased 62% in the last 12 months.