AMC Networks Inc (NASDAQ: AMCX) claimed that the company increased its revenue in the second quarter of 2014 because of the acquisition of Chellomedia earlier this year. According to the second quarter results, the company generated revenue of $522 million, which is 37.6% higher than the revenue for the same quarter of the last year. The company had an operating income of $129 million excluding the litigation settlement of the prior year and achieved an increase of 13.2% in its net operating income.
“The Walking Dead” and “Mad Men” are the well-known shows of AMC Networks Inc (NASDAQ: AMCX). The company has been increasing its revenue with the help of the various acquisitions. The network has gained control over its broadcasted shows and according to the Wall Street Journal, AMC Networks is gearing up to increase its list of stable properties with BBC America to be the latest addition. The company is trying to acquire a huge minority stake in BBC America along with its existing properties including IFC and Sundance TV.
The acquisition of Chellomedia in the first quarter is claimed to be the primary reason behind increasing revenue. AMC Networks reported $0.83 EPS with a profit of $58.4 million, which is less than its previous year’s profit of $1.87 per share or $135.7 million in total.
AMC Networks Inc (NASDAQ: AMCX) is a holding company and it works primarily through a network of subsidiaries. The company owns several cable television brands and works through its national as well as international sub-brands. Its national network includes brands such as AMC, IFC, WE tv, and Sundance Channel. The international segment of AMC Networks includes AMC/Sundance Channel Global, IFC Films, and AMC Network’s Broadcasting and Technology.
AMC Networks has a market cap of $4.35 Billion and has more than 2,000 full-time employees. The company has a promising future with most of its subsidiaries working exceptionally well at the national and global markets.
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This article has been written by Prakash Pandey and edited by Serkan Ünal.