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Scripps Networks Interactive on Thursday reported revenue growth in the third quarter that beat analyst expectations.
Revenue came in at $566 million, up 12 percent from the previous year’s same three-month period.
The company’s lifestyle TV channels all reported strong results in advertising and affiliate fees. Food Network had $199 million in revenue, up 11 percent. HGTV had $195 million, up 8.1 percent. Travel Channel reported $68.9 million in revenue, up 10 percent. Additionally, DIY Network, the Cooking Channel, and Great American Country all reported double-digit growth.
Scripps also announced that its third-quarter net income came in at $156.8 million, which was an improvement on just under $130 million from the previous year.
“Our positive third quarter results demonstrate in a powerful way the ubiquitous nature of our popular lifestyle brands,” CEO Kenneth Lowe said.
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