AMC Networks Swings to Q4 Profit on Streaming Gains
Brian Steinberg, provided by
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AMC Networks said it swung to a profit in the fourth quarter despite a decline in revenue as it narrowed losses in its international and other operations due to an increase in revenue from streaming-video subscriptions.
The owner of the AMC, Sundance and IFC cable networks said net income came to $2.09 cents a share, or $94.7 million, compared with a loss of 15 cents a share, or $8.58 million in the year-earlier period. Revenue was essentially flat at $780.3 million. The company is known primarily for making TV series like “The Walking Dead”