Scripps Networks Interactive Earnings: Beats the Street on Profit Rise

S&P 500 (NYSE:SPY) component Scripps Networks Interactive Inc. (NYSE:SNI) reported net income above Wall Street’s expectations for the second quarter. Scripps Networks Interactive is a media company operating as a lifestyle content and interactive services provider. The company engages in national television networks, such as Food Network, and Internet-based media outlets like Shopzilla.

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Scripps Networks Interactive Inc. Earnings Cheat Sheet

Results: Net income for Scripps Networks Interactive Inc. rose to $142.4 million (93 cents per share) vs. $77.4 million (78 cents per share) in the same quarter a year earlier. This marks a rise of 83.9% from the year-earlier quarter.

Revenue: Rose 12.5% to $601 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Scripps Networks Interactive Inc. beat the mean analyst estimate of 60 cents per share. It beat the average revenue estimate of $519.2 million.

Quoting Management: “Scripps Networks Interactive has created a clear, competitive advantage on multiple video screens and other platforms by uniquely defining and staying true to the lifestyle content categories that we own,” said Kenneth W. Lowe, chairman, president and chief executive officer. “The company’s strong second quarter financial performance is a direct result of our successful strategy to differentiate our networks by focusing on avid consumer interest in their homes, food and travel.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 14.3% and in the fourth quarter of the last fiscal year, the figure rose 3.4%.

A year-over-year revenue increase last quarter snaps a streak of three consecutive quarters of revenue declines. Revenue fell 0.1% in the first quarter, 3.4% in the fourth quarter of the last fiscal year and 1% in the third quarter of the last fiscal year.

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 84 cents versus a mean estimate of net income of 81 cents per share.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the third quarter is 86 cents per share, down from 90 cents ninety days ago. For the fiscal year, the average estimate has moved down from $3.22 a share to $3.16 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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