'The Walking Dead' drives AMC Networks' revenue past estimates
(Reuters) - AMC Networks Inc reported better-than-expected quarterly profit and revenue on Thursday as strong ratings for shows such as its hit zombie drama "The Walking Dead" and its acquisition of BBC America helped the cable TV network's domestic performance.
About 14.8 million viewers tuned in to watch the mid-season finale of the fifth season of "The Walking Dead", which aired in November.
AMC paid $200 million for a 49.9 percent stake in BBC America last October, taking operational control of the cable TV channel that reaches 80 million U.S. homes and airs popular drama series such as "Doctor Who" and "Orphan Black."
AMC's international business was boosted by its purchase of international content provider Chellomedia in January 2014. The Chellomedia acquisition gave AMC access to markets in more than 130 countries.
Revenue from the AMC's national networks business, which includes BBC America, rose 19.7 percent to $499.8 million in the fourth quarter from a year earlier, while revenue from AMC's international networks, which includes Chellomedia, rose more than six-fold to $110.3 million.
The company, known for hits such as "Breaking Bad" and "Mad Men," said net revenue rose 40 percent to $609.4 million, above the average analyst estimate of $602.4 million, according to Thomson Reuters I/B/E/S.
Net income attributable to AMC's shareholders rose to $77.6 million, or $1.06 per share, in the quarter ended Dec. 31, from $35.4 million, or 49 cents per share, a year earlier.
Analysts on average had expected a profit of 99 cents per share.
The company's shares closed at $69.17 on the New York Stock Exchange on Wednesday.
(Reporting By Sai Sachin R and Anya George Tharakan in Bengaluru; Editing by Simon Jennings)
