NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported a loss of $284.5 million in its fourth quarter.
On a per-share basis, the New York-based company said it had a loss of $6.38. Earnings, adjusted for asset impairment costs and restructuring costs, came to 64 cents 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 79 cents per share.
The owner of cable channels including AMC and IFC posted revenue of $599.3 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $616.2 million.
For the year, the company reported a loss of $226.5 million, or $5.10 per share, swinging to a loss in the period. Revenue was reported as $2.42 billion.
AMC Networks shares have fallen nearly 1% since the beginning of the year. The stock has decreased 27% 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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