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Scripps Networks 2Q Profit Up 34% Amid Travel Channel Impact

DOW JONES NEWSWIRES Scripps Networks Interactive Inc.'s (SNI) second-quarter profit rose 34%, beating analysts' expectations, on increased affiliate fees and better advertising revenue, thanks in part to December's acquisition of the Travel Channel. The owner of HGTV and Food Network, as well as websites Shopzilla and uSwitch, saw total revenue at its lifestyle segment, which includes the cable channels, rise 36% as earnings jumped 38%. Affiliate fees surged 73% and advertising revenue jumped 27%, with the latter's growth stronger than seen at other cable-network owners. Scripps has posted improved results in recent quarters as ad revenue has recovered from last year. Ratings for the Travel Channel have been rising in recent months and were up by a double-digit percentage in July, according to a research note from MKM Partners. The company posted earnings of $106.2 million, or 63 cents a share, up from $79.5 million, or 48 cents a share, a year earlier. The latest quarter included 4 cents of gains. Revenue rose 32% to $516 million, with half the increase due to the Travel Channel. Analysts polled by Thomson Reuters most recently forecast earnings of 57 cents on $509 million in revenue. Operating margin was flat at 37.5%. Shares closed Friday at $44.82 and didn't trade premarket. The stock has risen 32% the past year. -By Matt Jarzemsky and Jodi Xu, Dow Jones Newswires; 212-416-2240;

Stock News for Scripps Networks Int (SNI)
07/02/201510:26:39Statement of Changes in Beneficial Ownership (4)
07/02/201510:21:02Statement of Changes in Beneficial Ownership (4)
07/02/201510:14:37Statement of Changes in Beneficial Ownership (4)
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06/30/201516:45:13Current Report Filing (8-k)
06/26/201515:36:42Statement of Changes in Beneficial Ownership (4)
06/26/201515:32:47Statement of Changes in Beneficial Ownership (4)
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06/23/201515:15:21Statement of Changes in Beneficial Ownership (4)
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06/16/201513:42:00Food Network Heats Up This Summer With New Seasons Of Chopped...
06/16/201507:15:00Scripps Networks Interactive to participate in Bernstein conference
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06/10/201517:14:25Current Report Filing (8-k)
06/09/201516:11:00Scripps Networks Interactive Intends to Make 100% Ownership Offer...
06/05/201517:16:23Statement of Changes in Beneficial Ownership (4)
06/05/201516:42:03Amended Statement of Beneficial Ownership (sc 13d/a)
06/03/201510:48:40Statement of Changes in Beneficial Ownership (4)

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