NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported second-quarter net income of $50.3 million, after reporting a loss in the same period a year earlier.
The New York-based company said it had profit of 91 cents per share. Earnings, adjusted for one-time gains and costs, were 69 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The owner of cable channels including AMC and IFC posted revenue of $600 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $586 million.
AMC Networks shares have declined 39% since the beginning of the year. The stock has declined 43% 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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