Tags: AMC | cable | profit | revenue

AMC Networks Profit Beats Estimates, 'Walking Dead' Spinoff Planned

Thursday, 06 Nov 2014 11:04 AM

AMC Networks Inc., home to hits such as "Breaking Bad" and "Mad Men," reported a better-than-expected quarterly profit as the company's international business benefited from its purchase of international content provider Chellomedia.

AMC bought Chellomedia, a unit of John Malone's Liberty Global Plc, for about $1.04 billion in January, giving it access to markets in more than 130 countries.

Revenue from the division that holds the company's international and film business jumped almost nine-fold to $122.7 million, helped by the success of the Richard Linklater film "Boyhood", a family drama filmed over 12 years.

However AMC's new shows, such as "Low Winter Sun," "Turn" and "Halt & Catch Fire" have failed to replicate the success of "Breaking Bad," "Mad Men" and "The Walking Dead," and the company's net profit slipped as it spent more on production.

AMC is slated to release a prequel to the Emmy-winning "Breaking Bad," titled "Better Call Saul," in February.

The company is picking up a companion show to the zombie hit "The Walking Dead," which looks at how the zombie apocalypse is affecting other parts of the world.

AMC's shares rose 1.3 percent at $60.74 in early trading on the Nasdaq on Thursday.

Net income attributable to AMC fell to $53.2 million, or 73 cents per share, in the third quarter ended Sept. 30 from $58.1 million, or 80 cents per share, a year earlier.

Net revenue rose to $519.55 million from $395.33 million.

The company earned 74 cents per share from continuing operations.

Analysts on average had expected a profit of 73 cents per share, on revenue of $511.1 million, according to Thomson Reuters I/B/E/S.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Companies
AMC Networks Inc., home to hits such as Breaking Bad and Mad Men, reported a better-than-expected quarterly profit as the company's international business benefited from its purchase of international content provider Chellomedia.
AMC, cable, profit, revenue
271
2014-04-06
Thursday, 06 Nov 2014 11:04 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved