- AMC Networks beats by $0.45, beats on revs
NEW YORK (AP) _ AMC Networks Inc. (AMCX) on Thursday reported first-quarter profit of $156.9 million.
On a per-share basis, the New York-based company said it had profit of $2.54. Earnings, adjusted for amortization costs, came to $2.65 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.
The owner of cable channels including AMC and IFC posted revenue of $740.8 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $720.7 million.
AMC Networks shares have fallen roughly 2 percent since the beginning of the year. The stock has fallen 4 percent in the last 12 months.
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