AMC Networks fell in line with analyst expectations in their 2016 Q2 earnings results, which were reported on Thursday.
The company — which includes AMC, IFC, BBC America, and WE tv — reported earnings per share of $1.28, as analysts had predicted.
However, second quarter net revenues increased 13.9 percent, or $84 million, to $685 million over the second quarter of 2015, led by 17.2 percent growth at National Networks and an increase of $5 million at International and Other.
Net income was down from the same period last year, with the company reporting $77 million this quarter versus $83 million last year.
“AMC Networks delivered strong financial and operating results in the second quarter with double-digit growth in revenues, operating income and AOCF driven by increases in both advertising and distribution revenues at our National Networks,” AMC president and CEO Josh Sapan said.
“Our acclaimed and popular shows including ‘The Walking Dead,’ ‘Better Call Saul’ and ‘Orphan Black,’ are being watched across multiple platforms and create network and programming brands that are highly sought after by advertisers, distributors and consumers,” he continued. “We remain confident that our approach is the right one to succeed in a highly competitive and consolidating entertainment marketplace, and we remain focused and committed to continuing to create and deliver value for our shareholders.”
Operating income was $178 million, an increase of 12.1 percent, or $19 million, versus the prior year period. The operating income increase resulted from 12.8 percent growth at National Networks and a decrease of $1 million in operating loss at International and Other.