NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported a second-quarter loss of $29.2 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 66 cents per share. Earnings, adjusted for one-time gains and costs, were $1.24 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 $1.38 per share.
The owner of cable channels including AMC and IFC posted revenue of $625.9 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $601.3 million.
AMC Networks shares have decreased 45% since the beginning of the year. The stock has decreased 24% 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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