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Scripps Networks Interactive, Inc. (SNI) Stock Is Surging Despite Q4 Earnings Miss

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Scripps Networks Interactive, Inc. (NASDAQ: SNI ) stock was up on Tuesday despite an earnings miss for the fourth quarter of 2016.

During the fourth quarter of the year, Scripps Networks Interactive, Inc. reported earnings per share of $1.02. This is a decrease from the earnings per share of $1.35 that was reported in the fourth quarter of 2015. It also came in below Wall Street's earnings per share estimate of $1.07 for the quarter.

Scripps Networks Interactive, Inc. reported revenue of $888.70 million in the fourth quarter of 2016. This is an increase over the company's revenue of $851.75 million from the same time last year. It also beat out analysts' revenue estimate for the quarter, which was set at $879.15 million.

Operating income reported by in the fourth quarter of the year was $227.75 million. This is a decrease over SNI's operating income of $275.09 million in the fourth quarter of the previous year.

Net income reported by Scripps Networks Interactive, Inc. for the fourth quarter of 2016 was $92.31 million. The company reported net income of $202.90 million in the same period of the year prior.

"Looking ahead to 2017 and beyond, we continue to be focused on sustainable long-term growth, driven by the strength of our inspiring brands and content, and growing our reach across different platforms and geographies," Kenneth Lowe, Chairman, President and CEO of Scripps Networks Interactive, Inc., said in a statement .

Scripps Networks Interactive, Inc. also released details for its full year 2016 earnings in its recent report. SNI reported earnings per share of $5.29 and revenue of $3.4 billion for the year. Wall Street was expecting the company to report earnings per share of $5.27 and revenue of $3.39 billion for the year.

SNI stock was up 7% as of Tuesday afternoon and is up 14% year-to-date.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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