With 39 Emmy nominations and now a strong Q2 earnings report, I suspect CEO Josh Sapan is in a good mood today. The bottom line was helped by a $133M contribution from Dish Network — part of its payment to resolve the breach of contract dispute involving the VOOM HD channels. With that included, AMC Networks generated net income of $135.7M in the quarter, up nearly 227% vs the period last year, on revenues of $379.3M, +15.8%. The top line was well ahead of the $368.1M that analysts anticipated. And earnings from continuing operations at $1.87 per share beat forecasts for 78 cents. The numbers partly reflect the popularity of AMC’s original shows Mad Men and The Killing. Operating income at the National Networks — including AMC, WEtv, IFC, and Sundance Channel — was +14.6% to $127.6M on revenues of $353.6M, +15.9%. The company says that pay TV distribution fees increased 17.5% to $206M while ad sales rose 13.7% to $147M “due to strong demand for our original programming.” The VOOM cash shows up in the International and Other category which had $118.9M in operating income, up from a $14.1M loss last year, on revenues of $29.9M, +13.9%. Without VOOM, operating income would have been +14.6% for the National Networks and flat at International and Other. Sapan says that “our successful original content drove our overall financial results” and “continues to fuel the performance of our networks and underpin the Company’s growth.”
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