AMC Networks' Third-Quarter Revenue Up 19%
Flying high on the series finale of its hugely popular drama Breaking Bad, AMC Networks today reported a 19% boost in last quarter's revenue.
The bulk of AMC's revenue increase was found in its National Networks segment, which grew 20.1% compared to Q3 2012, to $367.9 million. According to President and CEO Josh Sapan, AMC's increase in overall sales was driven by a "return on our investment in original programming," with many programs "performing well on IFC, Sundance Channel, and WEtv."
AMC also significantly boosted its profit margins in the quarter. The company's operating income rose 40% compared to the same quarter in 2012, to $122.3 million, while net income grew from $36.6 million to $58.1 million.
Additionally, Sapan expressed enthusiasm over the company's recent acquisition of Liberty Global plc's international content division, Chellomedia. With this new transaction, Sapan believes AMC Networks "will over time further capitalize on demand for our content by growing internationally, a key strategy to ensuring our long-term success."
The article AMC Networks' Third-Quarter Revenue Up 19% originally appeared on Fool.com.
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