KNOXVILLE (AP) — Scripps Networks Interactive Inc. (SNI) on Tuesday reported second-quarter profit of $193.7 million.
The Knoxville, Tennessee-based company said it had net income of $1.49 per share. Earnings, adjusted for non-recurring gains, were $1.47 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The owner of cable channels HGTV, Food Network and Travel Channel posted revenue of $732.1 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $729.4 million.
Scripps Networks shares have fallen 17 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 2 percent. The stock has dropped 25 percent in the last 12 months.