UPDATE: AMC Networks Posts Drop In Q4 Profit

AMC Networks Inc

reported a decline in its fourth-quarter profit. AMC Networks' quarterly net income from continuing operations fell to $29 million, or $0.40 per share, from $30 million or $0.43 per share, in the year-ago period. Its revenue climbed 14% to $339 million. Analysts were expecting earnings of $0.59 per share on revenue of $327.9 million. AMC Networks shares dropped 8.77% to $42.00 in pre-market trading.