AMC Networks beats expectations, settles lawsuit with 'Walking Dead" producer

AMC Networks Inc. stock rose 3.4% in Friday premarket trading after the entertainment company reported second-quarter earnings that beat expectations. Net income totaled $35.9 million, or 83 cents per share, more than double the $15.0 million, or 28 cents per share, last year. Adjusted EPS of $3.45 far exceeded the FactSet consensus for $1.80. Revenue of $771.4 million was up from $646.3 million and ahead of the FactSet consensus for $696.9 million. AMC Networks has settled its years-long lawsuit with Frank Darabont, who was formerly a writer, director and producer on the hit zombie show "The Walking Dead," such that he and other plaintiffs, including Creative Artists Agency, LLC have been awarded cash payment of $200 million, and AMC Networks has recorded a charge of $143 million. AMC's portfolio includes the namesake network and streaming bundle, BBC America, IFC, SundanceTV and WE tv. AMC Networks stock has gained 38.5% for the year to date while the S&P 500 index is up 18% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

AMC Networks beats expectations, settles lawsuit with 'Walking Dead" producer
AMC Networks Inc. stock rose 3.4% in Friday premarket trading after the entertainment company reported second-quarter earnings that beat expectations. Net income totaled $35.9 million, or 83 cents per share, more than double the $15.0 million, or 28 cents per share, last year. Adjusted EPS of $3.45 far exceeded the FactSet consensus for $1.80. Revenue of $771.4 million was up from $646.3 million and ahead of the FactSet consensus for $696.9 million. AMC Networks has settled its years-long lawsuit with Frank Darabont, who was formerly a writer, director and producer on the hit zombie show "The Walking Dead," such that he and other plaintiffs, including Creative Artists Agency, LLC have been awarded cash payment of $200 million, and AMC Networks has recorded a charge of $143 million. AMC's portfolio includes the namesake network and streaming bundle, BBC America, IFC, SundanceTV and WE tv. AMC Networks stock has gained 38.5% for the year to date while the S&P 500 index is up 18% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.