AMC Networks Earnings Top Views as Company Slashes Costs

Earnings, when stripping out the restructuring costs and other charges, came to $2.52 a share, topping analysts’ expectations of $1.02 a share.

James Dolan,

AMC Networks’ interim executive chairman, said the company is reining in expenses and working to drive cash flow.

Quarterly revenue climbed to $964.5 million, up 20% and above analysts’ expectations of $934 million, as AMC licensed out more of its shows to other parties and grew its streaming base. The company ended the year with 11.8 million streaming subscribers, up from 11.1 million as of Sept. 30.

Shares shot up more than 20% in early Friday trading. 

The media company, whose flagship cable channel is known for shows such as “Breaking Bad,” “The Walking Dead” and “Mayfair Witches,” said revenue from U.S. operations rose 26% as distribution and streaming gains offset a slowdown in advertising and weakness in cable television amid continued cord-cutting.

The readout from AMC comes as Ms. Dolan, who is married to Mr. Dolan, prepares to take over as CEO on Feb. 27. 

Ms. Dolan, who runs an audience-measurement and data-analytics firm, is already a steady presence inside AMC, attending some senior meetings and keeping an office on the executive floor, The Wall Street Journal has reported. She is also on AMC’s board. The Dolans are separated but remain close.

AMC Networks has for years struggled to find its way in the streaming era. Mr. Dolan, whose family controls AMC, is trying to right the path, looking to slash costs while still pursuing growth in streaming. Other media companies have moved recently to rein in costs and stem losses in their streaming businesses amid the continued decline of cable television as Americans cancel their pay-TV packages in droves.

AMC Networks, whose brands include its namesake channel, as well as IFC, WE tv and Sundance TV, was among the many media companies that rode a wave of growth as cable TV was in its last lap of dominance in the media ecosystem. Its high-end, dark dramas—about zombies, ad executives in the 1960s, a high-school teacher turned meth kingpin—helped usher in an era of prestige TV.

The company embraced the rise of streaming services a decade ago, making hit shows like “Breaking Bad” available on

Netflix Inc.,

a sign that the relationship between cable networks and streaming services could be mutually beneficial. That dynamic changed when streamers started embracing original content and the number of streaming platforms ballooned.

AMC in recent years entered the streaming fray with its own services, including AMC+. The company continues to license its programming to other platforms. In the U.S., recent episodes of high-profile shows including “Better Call Saul” and “The Walking Dead” can be streamed exclusively through AMC+—which costs $8.99 a month—for a limited time.

Write to Will Feuer at Will.Feuer@wsj.com

Earnings, when stripping out the restructuring costs and other charges, came to $2.52 a share, topping analysts’ expectations of $1.02 a share.

James Dolan,

AMC Networks’ interim executive chairman, said the company is reining in expenses and working to drive cash flow.

Quarterly revenue climbed to $964.5 million, up 20% and above analysts’ expectations of $934 million, as AMC licensed out more of its shows to other parties and grew its streaming base. The company ended the year with 11.8 million streaming subscribers, up from 11.1 million as of Sept. 30.

Shares shot up more than 20% in early Friday trading. 

The media company, whose flagship cable channel is known for shows such as “Breaking Bad,” “The Walking Dead” and “Mayfair Witches,” said revenue from U.S. operations rose 26% as distribution and streaming gains offset a slowdown in advertising and weakness in cable television amid continued cord-cutting.

The readout from AMC comes as Ms. Dolan, who is married to Mr. Dolan, prepares to take over as CEO on Feb. 27. 

Ms. Dolan, who runs an audience-measurement and data-analytics firm, is already a steady presence inside AMC, attending some senior meetings and keeping an office on the executive floor, The Wall Street Journal has reported. She is also on AMC’s board. The Dolans are separated but remain close.

AMC Networks has for years struggled to find its way in the streaming era. Mr. Dolan, whose family controls AMC, is trying to right the path, looking to slash costs while still pursuing growth in streaming. Other media companies have moved recently to rein in costs and stem losses in their streaming businesses amid the continued decline of cable television as Americans cancel their pay-TV packages in droves.

AMC Networks, whose brands include its namesake channel, as well as IFC, WE tv and Sundance TV, was among the many media companies that rode a wave of growth as cable TV was in its last lap of dominance in the media ecosystem. Its high-end, dark dramas—about zombies, ad executives in the 1960s, a high-school teacher turned meth kingpin—helped usher in an era of prestige TV.

The company embraced the rise of streaming services a decade ago, making hit shows like “Breaking Bad” available on

Netflix Inc.,

a sign that the relationship between cable networks and streaming services could be mutually beneficial. That dynamic changed when streamers started embracing original content and the number of streaming platforms ballooned.

AMC in recent years entered the streaming fray with its own services, including AMC+. The company continues to license its programming to other platforms. In the U.S., recent episodes of high-profile shows including “Better Call Saul” and “The Walking Dead” can be streamed exclusively through AMC+—which costs $8.99 a month—for a limited time.

Write to Will Feuer at Will.Feuer@wsj.com