AMC Networks Sees Q2 Profit Rise

AMC Networks said its second quarter profit rose largely on performance from its U.S. cable networks, which include AMC, Sundance, IFC and We TV.

Second-quarter net income rose 34% to $103 million, or $1.54  a share, compared with $77 million, or $1.05 a share, in the year-earlier period.  The results include impairment charges of $17 million related to an Amsterdam facility.

Revenue in the second quarter rose 3.8%, or $26 million, to $711 million, reflecting a 5.6% increase in revenue at U.S. networks and despite a $7 million decline at the company’s international operations.  The company said ad revenue at its U.S. networks rose 2.6%. Investors have been scrutinizing media companies’ advertising performance in the second quarter, particularly after Time Warner and Scripps Networks have indicated tougher trends in that measure for some months ahead. Distribution revenue at the domestic networks, meanwhile, increased  7.8%

The company airs some of TV’s most critically acclaimed dramas, including “Better Call Saul” and “The Walking Dead.”

In prepared remarks, AMC Networks CEO Josh Sapan cited programs such as  AMC’s “Better Call Saul,” IFC’s “Documentary Now!” and BBC America’s “Planet Earth I” as examples of “marquee content” that lures “passionate and engaged fans” to the company’s networks.

AMC saw some choppiness at its overseas and other operations, where revenue fell 6.3%  to $110.8 million. An operating loss increased to $31.2 million from $7.8 million. Sales fell for both international networks and IFC Films, while new investments in digital efforts offset a decrease in network costs.

More TV

  • Love Island - Pictured: Kyra Green,

    TV Ratings: Is 'Love Island' Deserted?

    Two weeks have passed on “Love Island” and plenty of singles have coupled and uncoupled in their bid for love and a fat $100,000 pay check. However, there’s one couple that doesn’t seem to be hitting it off: CBS and “Love Island.” Ratings for the show have been far from paradisiacal, and with the network [...]

  • Jenny Wall Eryk Casemiro Nickelodeon

    Jenny Wall Named Nickelodeon CMO, Eryk Casemiro Named Senior VP of Nickelodeon Preschool

    Nickelodeon has hired two new executives, tapping Jenny Wall to become chief marketing officer and Eryk Casemiro to become senior vice president of Nickelodeon Preschool. Most recently CMO at Spotify-owned Gimlet Media, Wall will be responsible for all on- and off-air consumer marketing, brand creative and content launches across all of Nickelodeon’s platforms, including Nicktoons, [...]

  • Liz Garbus on Why We May

    Liz Garbus on Why The World May Never Know 'Who Killed Garrett Phillips'

    By the time Liz Garbus’s two-part documentary “Who Killed Garrett Phillips?” debuts on HBO, there could be a new public lead in the case of the murdered titular 12-year-old. As least, that’s what many may hope after the new St. Lawrence County district attorney admitted a new tip earlier this spring. Garbus says she would [...]

  • Mike Fleiss

    'Bachelor' Producers in Wait-and-See Mode Amid Police Probe Into Fleiss Incident

    Those working on “The Bachelor” and its sister shows are in wait-and-see mode as a domestic incident involving creator Mike Fleiss continues to be investigated in Kauai, according to sources close to production. The results of the police investigation are still pending, after Fleiss’ wife, Laura Fleiss, had accused him of attacking her in their [...]

  • Variety Cord Cutting Placeholder Cable

    Cable Blackouts Growing More Common, Even If Subscribers Get Angry

    Among media companies, “going dark” was once a matter of last resort. Now it’s an option that is seeing more light. CBS is not currently available on DirecTV or AT&T’s U-verse, the result of a battle over how much the two outlets’ owner, AT&T, ought to pay for the right to send CBS into millions [...]

More From Our Brands

Access exclusive content