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Scripps Networks Interactive Tops Q3 Views

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Scripps Networks Interactive, Inc. (NYSE: SNI) reported stronger-than-expected results for the third quarter on Monday.

The Knoxville, Tennessee-based company posted quarterly net income of $124.6 million, or $0.96 per share, compared to $131.3 million, or $0.93 per share, in the year-earlier quarter. Excluding items, the company's adjusted earnings came in at $1.06 per share.

Its revenue climbed 20.4 percent year-over-year to $776.1 million. However, analysts were expecting a profit of $0.98 per share on revenue of $761.09 million.

The average estimate among 24 Estimize users was for earnings of $1.03 per share and revenue of $758.25 million.

U.S. Networks revenue gained 6.2 percent year-over-year to $660.9 million for the third quarter, while International Networks revenue jumped to $118.7 million from $23.8 million.

Its advertising revenue climbed 22.2 percent to $527.9 million for the quarter, while affiliate fee revenue rose 13.5 percent to $224.9 million.

"This has been a transformative quarter for Scripps Networks Interactive. Our international business has been bolstered by the successful acquisition of Poland's leading multi-platform media company, TVN. Our networks continue to thrive in the United States, and their success is reflected in strong growth in both advertising and affiliate revenues. With a strategy that enables us to create deeper connections with consumers across the world, we are focused on delivering long-term growth and enhanced shareholder value," said Kenneth W. Lowe, Chairman, President and Chief Executive Officer.

Scripps Network expects FY15 revenue growth of 13 percent.

Scripps Network shares gained 1.34 percent to close at $59.04 on Friday.

 

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