KNOXVILLE, Tennessee — Scripps Networks Interactive Inc. (SNI) on Thursday reported first-quarter profit of $123.8 million.
On a per-share basis, the Knoxville, Tennessee-based company said it had net income of 94 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.02 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The owner of cable channels HGTV, Food Network and Travel Channel posted revenue of $658.3 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $662.7 million.
Scripps Networks shares have declined 7 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1 percent. The stock has dropped 6 percent in the last 12 months.
Keywords: Scripps Networks, Earnings Report
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