Updated from 9:04 a.m. EDT.
Before the market open, the New York City-based company said that quarterly revenue grew 0.4% over last year to $634.6 million. This figure missed Wall Street's projections of $656.9 million.
Adjusted earnings of $1.01 per share for the quarter topped analysts' estimates of 99 cents per share, according to FactSet.
Domestic advertising revenue fell 9.9% year-over-year to $189 million.
Bernstein said this morning that the decline in advertising revenue was wider than the consensus for a 5% decline.
AMC Networks had previously projected that third-quarter advertising revenue would be flat year-over-year. "Clearly that didn't pan out," Bernstein noted.
The firm added that the company's advertising revenue "has been hard to predict because revenue has consistently outpaced audience by a wide margin," which Bernstein said persisted in the third quarter.
The firm has a "hold" rating and $53 price target on the stock.
AMC Networks owns and operates cable television brands like AMC, IFC and SundanceTV.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: AMCX