AMC Networks Posts Better-Than-Expected Profit

AMC Networks Inc. reported a better-than-expected 16% increase in fourth-quarter earnings, boosted in part by growth at its national networks, which includes its namesake channel, BBC America and IFC.

Chief Executive Josh Sapan pointed to three new original series premiered in the year—"Fear the Walking Dead," "Better Call Saul" and "Into the Badlands," all of which broke ratings records. He also said the company continued to build and expand its international business into key markets across Europe and Latin America.

For the quarter ended Dec. 31, AMC Networks reported a profit of $90.1 million, or $1.23 a share, up from $77.6 million, or $1.06 a share, a year earlier. Revenue jumped 11% to $679 million.

Analysts polled by Thomson Reuters were expecting earnings of $1.18 a share on $675 million in revenue.

Revenue growth was led by a 14% increase in advertising to $289 million. The company's national networks revenue climbed 13%, while revenue in the international and other segment grew 8.1%.

The quarter included the impact of a full three months of results in 2015 from the acquisition of BBC America, as compared with about two months in 2014. AMC took a 49.9% stake in BBC America at the end of 2014.

Shares of AMC Networks, up 2.4% over the past three months, slid 1.9% to $69.50 in premarket trading.

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

(END) Dow Jones Newswires

February 25, 2016 10:05 ET (15:05 GMT)

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