Scripps Networks beats 3Q earnings expectations, misses revenue forecasts

MarketsAssociated Press

Scripps Networks Interactive Inc. (SNI) on Thursday reported profit of $131.3 million in its third quarter.

The Knoxville, Tennessee-based company said it had profit of 93 cents per share.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The owner of cable channels HGTV, Food Network and Travel Channel posted revenue of $644.4 million in the period, falling short of Street forecasts. Analysts expected $652.4 million, according to Zacks.

Scripps Networks shares have dropped 14 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 9.5 percent. The stock has declined nearly 7 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. SNI stock research report from Zacks.

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Keywords:Scripps Networks,Earnings Report