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NEW YORK (AP) — NEW YORK (AP) — AMC Networks Inc. (AMCX) on Friday reported first-quarter earnings of $18 million.
The New York-based company said it had net income of 34 cents per share. Earnings, adjusted for amortization costs and restructuring costs, came to 52 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The owner of cable channels including AMC and IFC posted revenue of $555.2 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $573 million.
AMC Networks shares have declined 37% since the beginning of the year. The stock has declined 53% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMCX at https://www.zacks.com/ap/AMCX