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AMC Networks Inc. (AMCX) Broke Out To A New High On Q3 Earnings News

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AMC Networks Inc. (AMCX: Quote) reported third quarter net income of $0.51 per share Thursday morning, down from $0.55 per share in the previous year. The consensus estimate was for EPS of $0.37. Revenues increased to $332.05 million from $283.91 million in the corresponding quarter last year. Analysts expected revenues of $288.46 million.

AMC Networks gapped up sharply Thursday and climbed in early trade, but profit taking set in around midday. The stock finished up by 4.13 at $52.57 on above average volume. AMC Networks has been gaining ground for the past 3 weeks and set a new high for the year.

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by RTT Staff Writer

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