Thursday, May 3, 2012

Scripps Networks 1Q profit tops forecasts




KNOXVILLE, Tenn. (AP) — Scripps Networks Interactive Inc., the operator of pay TV networks like Food Network and HGTV, said Thursday that its first-quarter net income rose 14 percent as advertising revenue and fees from distributors grew.

Net income in the three months to March 31 rose to $115 million, or 73 cents per share, from $101 million, or 59 cents per share, a year ago.

Analysts polled by FactSet were looking for 61 cents per share of earnings.

Revenue grew 11 to $535 million from $481 million, beating the $520 million expected by analysts.

Advertising revenue grew 10 percent, while distributor fee revenue grew 16 percent.

Shares rose $3.31, or 6.5 percent, to $54.05 in afternoon trading Thursday.



Source & Image : Yahoo

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