AMC Networks 3Q Profits Surge 58% to $40 Million on Original Programming

AMC Networks reported Thursday $40 million in net income for the third quarter, a 58 percent increase from the year earlier period, based on the success of the success of original programming.

The core of our growth strategy continues to be our investment in original programming, CEO Josh Sapan said in a statement. ...Our programming successes are reflected in solid financial quarter results as we continued to increase net revenues, AOCF (Adjusted Operating Cash Flow) and operating income in the third quarter.

Sapan pointed out that The Walking Dead, which is in its second season, has shown considerable success, and Mad Men won AMC its fourth consecutive Primetime Emmy Award for Outstanding Drama Series.

Net revenue was $283.9 million, up 4.6 percent from the year-earlier period. For the first three-quarters of the fiscal year, third quarter net revenue was up 8.8 percent from the year-earlier period.

AMC owns four nationally distributed television networks: AMC, WE tv, IFC and Sundance Channel.

Shares of AMC are up 3.93 percent to $33.81.