AMC Networks Shares Up as Profit Climbs

Shares of AMC Networks Inc., the operator of channels including its namesake AMC, IFC and BBC America, rose 4% in early trading Thursday as profit shot up 37% in the network's latest quarter.

Results came in sharply above Wall Street expectations.

Chief Executive Josh Sapan said the quarter's success was driven by the continued popularity of BBC America's "Doctor Who" and a strong start from AMC's newest original series, "Fear the Walking Dead."

For the quarter ended September, AMC Networks reported a profit of $72.8 million, or 99 cents a share, compared to $53.2 million, or 73 cents a share a year earlier. Revenue jumped 22% to $632.2 million.

Analysts polled by Thomson Reuters were expecting earnings of 85 cents a share on $605.1 million in revenue.

Revenue growth was led by a 52.3% increase in advertising revenue to $210 million, reflecting the inclusion of BBC America in the current year period as well as growth at AMC related to the timing of the airing of original programming. Late last year, AMC took a 49.9% stake in the BBC America.

Write to Anne Steele at Anne.Steele@wsj.com

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(END) Dow Jones Newswires

November 05, 2015 11:35 ET (16:35 GMT)

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