AMC Networks’ Q3 operating income spikes 31%

The Walking Dead
The company attributed the increase in net revenues to 3% growth at national networks and a decrease of $1 million at international and other.

AMC Networks’ third-quarter operating income rose 30.9% to $153 million as the programmer’s net revenues increased 2.1% to $648 million.

The company said the increase in net revenues was due to 3% growth at national networks and a decrease of $1 million at international and other. The operating income increase was due to an increase of 29.1% at national networks partially offset by an increase of $2 million in operating loss at international and other.

Adjusted operating income rose 19.2% to $200 million as national networks adjusted operating income rose 22.9% but international and other adjusted operating income fell by $3 million year over year.

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AMC Networks’ net income was $87 million, up from $65 million one year ago.

"We delivered strong financial performance in the third quarter, and we are on track to meet our 2017 full-year financial targets of total company revenue and adjusted operating income growth,” said AMC Networks President and CEO Josh Sapan in a statement.

RELATED: AMC Networks revenue climbs 3.8%

At national networks—home to AMC, WE tv, BBC America, IFC and SundanceTV, and production business AMC Studios—revenues rose 3% to $541 million. The revenue boost was due to a 4.5% increase in advertising revenues, driven by higher pricing partially offset by lower delivery, and a 2.1% increase in distribution revenues, driven by an increase in affiliate fees partially offset by a decrease in licensing revenues.

National networks’ higher operating income was helped along by a decrease in operating expenses that AMC attributed to lower programming and marketing expenses.

AMC’s international and other revenues fell $1 million to $113 million as operating loss widened by $2 million to a loss of $19 million. The decline in third-quarter revenues was largely due to the sale of AMCNI-DMC, the company's Amsterdam-based media logistics facility.

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