AMC Networks, operator of AMC and other cable channels, reported a lower-than-expected quarterly profit as it spent more on programming ahead of the final seasons of its long-running hits “Mad Men” and “Breaking Bad.”

Analyst Rich Tullo said the network was spending more to develop content to replace both shows on its AMC channel as well as expand programming on its other channels.

Shares closed down 6 percent, to $66.90.