AMC Networks Notches Q2 Profit Gain Despite Ad Slump

Variety | 7/31/2019 | Brian Steinberg
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AMC Networks said its second quarter net income rose 21% despite an 11% decline in U.S. ad sales, putting a spotlight on some of the company’s international operatoins, which showed more business growth during the period.

The New York-based owner of the AMC, IFC and SundanceTV cable networks said net income came to about $128.7 million, or $2.25 a share, in the second quarter, compared with approximately $106.2 million, or $1.82 a share, in the year-earlier period.

Revenue - % - Surge - Revenue - Company

Revenue rose 1.4%, or $11 million, to $772 million, largely due to a surge in revenue at the company’s overseas operations.

In a statement, AMC Networks CEO Josh Sapan suggested the company was working...
(Excerpt) Read more at: Variety
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