AMC Networks Inc. (AMCX: Quote) Thursday said net income in the second quarter improved to $41.51 million from $27.16 million in the second quarter of 2011.
Earnings from continuing operations advanced to $0.57 per share from $0.39 per share. On average, 12 analysts polled by Thomson Reuters expected earnings of $0.57 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues increased 12.2 percent to $327.57 million from $291.97 million. Analysts expected revenues of $324.47 million for the quarter.
CEO Josh Sapan said, "In the second quarter, AMC Networks delivered solid financial results with double-digit percentage increases in net revenues, AOCF and operating income. The results were driven by continued advertiser demand and renewals with distributors.''
Click here to receive FREE breaking news email alerts for AMC Networks Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News