The Walking Dead boosts revenues at AMC Networks
Cable TV network AMC Networks yesterday reported a 37 per cent jump in quarterly revenue as more people watched the fourth-season finale of its popular show The Walking Dead. Net income rose to $71.4m (£42.2m) in the first quarter from $61.5m a year earlier. Revenue rose to $524.6m. However, AMC stock fell seven per cent.
Fannie Mae and Freddie Mac return cash to the US
US government-controlled mortgage finance firms Fannie Mae and Freddie Mac will send the US Treasury dividends totalling $10.2bn after posting profits driven mainly by income from legal settlements. Fannie Mae posted quarterly net income of $5.3bn, including $4.1 bn from settlements of litigation over mortgage-backed securities. Freddie Mac earned a net income of $4bn.
Wendy’s wows investors with cost cutting efforts
Wendy’s topped Wall Street’s forecasts yesterday after restaurant disposals and cost cutting boosted its profits. Revenues fell 13.3 per cent to $523.2m (£308.2m), but adjusted earnings increased 13 per cent to $87.3m. Chief executive Emil Brolick said strategies to attract younger diners, such as mobile ordering, were starting to pay off.