You will be redirected back to your article in seconds

Scripps profits jump up 93% to $344 mil

Total revenue rises 9.2% to $605 million

Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%.

Costs were up 14% on planned growth at home and abroad, and higher programming expenses.

Net income shot up 93% to $344 million. Total revenue rose 9.2% to $605 million. But the numbers fell shy of Wall Street expectations, knocking the stock, which tends to be a media favorite. It was off 5% at $59 in early trading.

In a conference call Thursday, CEO Kenneth Lowe reminded investors that the company’s had 18 years of growth, which continued last quarter and into this year. Scripps’ segment profit hit $1 billion for the first time for full-year 2012.

Food Network revenue rose 5.2% for the three months ended in December to $214 million. HGTV was up 5.1% at $200 million and Travel Channel grew sales by 5.9% to $71 million.

DIY Network revenue rose 12.9% to $30.4 million and Cooking Channel jumped 38% to $25 million. GAC rose 16% to $7.8 million.

More TV

  • Sky Withdraws Recommendation of Fox Takeover

    Sky Withdraws Recommendation of Fox Takeover After Comcast Offer

    Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%. Costs were up 14% on planned growth at home and abroad, and higher programming expenses. Net income shot up 93% to $344 million. Total revenue […]

  • viacom logo

    International TV Growth, Paramount Gains Power Viacom Q2 Earnings

    Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%. Costs were up 14% on planned growth at home and abroad, and higher programming expenses. Net income shot up 93% to $344 million. Total revenue […]

  • A view of the headquarter of

    Comcast Makes Formal $31 Billion Offer for Sky

    Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%. Costs were up 14% on planned growth at home and abroad, and higher programming expenses. Net income shot up 93% to $344 million. Total revenue […]

  • Sony Pacts with Komixx for Young

    Sony Pacts with Komixx for Young Adult Content

    Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%. Costs were up 14% on planned growth at home and abroad, and higher programming expenses. Net income shot up 93% to $344 million. Total revenue […]

  • The Late Show with Stephen Colbert

    Hank Azaria Says He's Willing to 'Step Aside' From Controversial Apu Role

    Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%. Costs were up 14% on planned growth at home and abroad, and higher programming expenses. Net income shot up 93% to $344 million. Total revenue […]

  • Sense8

    TV News Roundup: ‘Sense8’ Finale Special Sets Netflix Premiere Date

    Food Network and Travel Channel parent Scripps Networks Interactive saw profits jump last quarter, in part on favorable tax adjustments, as ad sales rose 5% and affiliate fees grew 18%. Costs were up 14% on planned growth at home and abroad, and higher programming expenses. Net income shot up 93% to $344 million. Total revenue […]

More From Our Brands

Access exclusive content