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DAILY EARNINGS

AMC Networks Net Soars; Duke Energy, Enbridge Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 1:13 PM EDT May 10 2018

11:45 PM New York AMC Networks first-quarter net soared 15% to $157 million. Brookfield Asset Management first-quarter net surged to $1.9 billion. Duke Energy first-quarter net plunged 13% to $620 million. Enbridge first-quarter net tumbled 30% to $445 million. Revlon first-quarter net loss widened to $90 million.

Tollbooth Index jumped 196.08 or 1.3% to 15,252.48 but for the year-to-date jumped 10.8%.

Earnings Review

AMC Networks Inc (AMCX), the pay-TV cable networks operator said net revenues in the first-quarter ending in March rose 2.9% from a year ago to $741 million.

Net income in the quarter soared 15.4% to $156.9 million or $2.54 per diluted share from $136.2 million or $1.98 in the same quarter last year.

The pay-TV services provider said revenues in the national networks segment increased 2.9% to $633 million and revenues in the international and other business jumped 4.3% to $111.4 million.

Brookfield Asset Management Inc (BAM) jumped 3.3% or $1.33 to $41.19 after the Canada-based asset manager reported revenues in the first-quarter ending in March more than doubled from a year ago to $12.6 billion.

Net income in the quarter surged to $1.9 billion or 85 cents per diluted share from $518 million or loss of 8 cents in the same quarter last year.

The asset manager said as of March 31, assets under management were about $285 billion and fee bearing capital soared 12% to $127 billion.

Duke Energy Corporation (DUK), the electricity and gas services provider said revenues in the first-quarter ending in March soared 7% from a year ago to $6.1 billion.

Net income in the quarter plunged 13.4% to $620 million or 88 cents per diluted share from $716 million or $1.02 in the same quarter last year.

The utility provider beat estimates on higher demand in electric utilities business.

Enbridge Inc (ENB), Canada-based renewable and alternative energy producer reported net income in the first-quarter ending in March tumbled 30.3% to $445 million from $638 million.

Revlon, Inc (REV), the beauty and personal-care products maker said reported revenues in the first-quarter ending in March slumped 5.7% from a year ago to $560.7 million.

Net loss in the quarter widened to $90.3 million or $1.71 per diluted share from $37.4 million or 71 cents in the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc