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Scripps Networks beats Street 4Q forecasts

KNOXVILLE, Tenn. (AP) _ Scripps Networks Interactive Inc. (SNI) on Monday reported fourth-quarter net income of $65.9 million.

On a per-share basis, the Knoxville, Tennessee-based company said it had net income of 50 cents. Earnings, adjusted for pretax expenses and costs related to mergers and acquisitions, came to $1.38 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The owner of cable channels HGTV, Food Network and Travel Channel posted revenue of $956.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $912.8 million.

For the year, the company reported profit of $623.9 million, or $4.76 per share. Revenue was reported as $3.56 billion.

Scripps Networks shares have risen almost 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 4 percent. In the final minutes of trading on Monday, shares hit $88.51, a climb of roughly 10 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNI at https://www.zacks.com/ap/SNI