While AMC Networks boosted national advertising revenues way above estimates, national distribution revenues sank below expectations.
AMC’s U.S. advertising was down 6% to $239 million, with distribution 7.4% lower to $377 million. Rising total international revenues (up 54% to $171 million) helped lift AMCs overall first-quarter revenues by 6% to $784 million.
Analysts were expecting advertising revenue to be down 1.7%, and distribution revenues to fall 4.2%.
During the period, there were three extra episodes of the network’s high-rated “Walking Dead” series. That totals eight, up from five episodes in the first quarter of 2018. Spin-off series “Talking Dead” had also more episodes -- eight, up from five episodes.
Bernstein Research says total viewers for all AMC Networks -- AMC, WE, IFC, BBC America -- had a 2% dip in total viewer measurement in the first quarter; with 18-49 ratings down 6%.
Looking at just AMC network ratings, when it comes to Nielsen C3 18-49 measures, those numbers were down 6%.
AMC Networks net income was down 8.5% to $143 million.
The Wednesday morning stock price for the company was up 1% to $59.00.