NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported first-quarter earnings of $45.8 million.
On a per-share basis, the New York-based company said it had net income of $1.03. Earnings, adjusted for amortization costs, came to $1.16 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.79 per share.
The owner of cable channels including AMC and IFC posted revenue of $596.5 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $603.8 million.
AMC Networks shares have fallen 27% since the beginning of the year. The stock has declined 15% in the last 12 months.
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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 https://www.zacks.com/ap/AMCX
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