Earnings Grow at AMC Networks

NEW YORK: Earnings spiked at AMC Networks, with shows such as Breaking Bad and The Walking Dead contributing to strong increases in ad revenues.

The company reported profit of $58.1 million, up 59 percent from the $36.6 million a year earlier. Revenue was up 19 percent to $395.3 million.

The national networks segment—which includes AMC, WE tv, IFC and Sundance Channel—saw a 20-percent gain in revenue from last year, reaching $367.9 million. This growth was led by a 36-percent increase in ad revenue to $146 million, thanks to a strong demand from its original programming.

The company's international and other segment had revenues that were 6.9-percent higher at $31.3 million.

"Our solid financial results in the third quarter were driven by a return on our investment in original programming," said Josh Sapan, AMC Networks' president and CEO. "Our shows are performing well on IFC, Sundance Channel and WE tv. At AMC, our acclaimed series Breaking Bad came to a close with record viewership and the Emmy Award for Oustanding Drama Series, and The Walking Dead kicked off its fourth season with record ratings that extended its reign as the number one show on television among adults 18 to 49. With our Chellomedia acquisition, we believe we will over time further capitalize on demand for our content by growing internationally, a key strategy to ensuring our long-term success."