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.''
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by RTT Staff Writer
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