AMC Reports Higher Q1 Earnings


AMC Networks said its first-quarter earnings rose on the strength of its original programming.

Net income rose 45% to $43.2 million, or 60 cents a share, from $29.8 million, or 43 cents a share. Revenues rose 19.5% to $326 million.

"Continued viewer enthusiasm for our programming resulted in ratings gains for our national networks, most notably AMC's The Walking Dead," Josh Sapan, CEO, said in a statement.

Sapan added that AMC's Mad Men is having its most-watched season ever. "These successes underscore the strength of our original programming strategy, which continues to drive audience and advertiser demand for our networks," he said.

Cash flow at AMC's national networks rose 25.4% to $133 million as revenues rose 20.8% to $304.2 million. Advertising revenue was up 29.7%, led by AMC. Affiliate revenues rose 15%.

The networks had higher programming and marketing expenses.