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AMC Networks 3Q Profit Rises on U.S. Networks Performance

AMC Networks, known for premium cable dramas like “The Walking Dead” and “Better Call Saul,”  said third-quarter profit soared 28% on robust performance at its national and international holdings.

The New York owner of the AMC, IFC and Sundance cable networks said net income totaled $111.2 million, or $1.93 a share, coimpared with $87 million, or $1.35 a share in the year-earlier period.

Revenue  rose 7.5% to $697 million, compared with $648 million in the year-earlier quarter.

Revenue from the company’s national networks segment rose 3.5% to $560 million, compared with  $541 million in the year-earlier quarter. Revenue from thei company’s international operations rose 34.6% to $151.7 million, compared with $112.8 million a year earlier.

AMC said on Wednesday it completed the acquisition of another 32% of RLJ Entertainment. The company already owns 51%. AMC also said it was on track to meet Wall Street’s 2018 expectations for revenue and adjusted operating income growth.

Todd Juenger, a media-industry analyst with Bernstein said advertising revenue from the company’s U.S. networks “continues to hang in better than expected.”

 

 

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