KNOXVILLE, Tennessee — In a story Feb. 12 about Scripps Networks Interactive Inc.'s quarterly earnings, The Associated Press reported erroneously that the company is based in Cincinnati.
It is based in Knoxville, Tennessee.
A corrected version of the story is below:
Scripps Networks beats 4Q profit forecasts
Scripps Networks tops 4Q net income expectations, misses revenue forecasts
KNOXVILLE, Tennessee — Scripps Networks Interactive Inc. (SNI) on Thursday reported fourth-quarter net income of $131.8 million.
The Knoxville, Tennessee-based company said it had profit of 96 cents per share. Earnings, adjusted for restructuring costs, came to $1.02 per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The owner of cable channels HGTV, Food Network and Travel Channel posted revenue of $669.2 million in the period, which missed Street forecasts. Analysts expected $683.4 million, according to Zacks.
For the year, the company reported profit of $545.3 million, or $3.83 per share. Revenue was reported as $2.67 billion.
Scripps Networks shares have dropped 2 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped roughly 3 percent in the last 12 months.
Keywords: Scripps Networks, Earnings Report
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