HSN 2nd-quarter profit drops slightly more than 5 percent, misses forecast

HSN Inc. on Thursday reported earnings that declined about 5 percent in its second quarter, and missed analysts' expectations.

The St. Petersburg, Florida-based company said profit dropped to $40.9 million, or 76 cents per share, from $43.3 million, or 79 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of 78 cents per share.

Continue Reading Below

The home shopping network operator said revenue rose 5 percent to $855.2 million from $812.6 million in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $832.5 million, according to Zacks.

HSN shares have decreased $6.40, or 10 percent, to $55.90 since the beginning of the year. The stock has dropped $5.09, or 8.3 percent, in the last 12 months.