AMC is proving that original programming pays off, with the first-quarter earnings report for AMC Networks Inc. showing a 69% surge in profits, The Wall Street Journal reports.
Chairman and Chief Executive Josh Sapan cited original programming including the enduring success of “The Walking Dead” along with the arrival of AMC’s newest hit, the “Breaking Bad” prequel “Better Call Saul.”
WSJ notes that an investment in BBC America is also working out, and the company’s international business is strong.
“Shares rose 6.5% to $81.25 in recent premarket trading as the results beat expectations,” WSJ reported this morning.
“In the latest quarter, AMC Networks’ national networks division — which includes AMC and WE tv, among others — posted a 25% growth in revenue to $562.8 million as advertising revenue rose 25% to $260 million,” the article reports. “The division’s adjusted operating cash flow — a measure of profitability — increased 42% to $253.3 million.”