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Scripps Networks 3Q net income up 9 pct

The Associated Press

NEWS: Scripps Networks Interactive Inc., the operator of pay TV networks such as Food Network and HGTV, said Thursday that its third-quarter net income rose 9 percent as ad sales and fees from affiliates rose.

DETAILS: Advertising revenue increased 9 percent to $410 million. Affiliate fee revenue rose 9 percent to $191 million due to higher rates and online video deals.

NUMBERS: Knoxville, Tenn.-based Scripps earned $129 million, or 87 cents per share, up from $118.4 million, or 78 cents per share, in the same quarter of 2012. Revenue rose 9 percent to $616.9 million.

Analysts, on average, expected a profit of 84 cents per share on $618.8 million in revenue, according to FactSet.