Scripps Networks sees revenue jump to $566m

Scripps Networks Interactive, the owner of UKTV, has reported a rise in Q3 2012 with net income jumping by 20% to $118.41 million, up from $98.6 million in the same period last year.

Revenue for the quarter climbed to $566.18 million from $503.74 million in the prior year, while analysts estimated to see revenues of $555.71 million. The outcome reflected strong advertising revenues of $377 million, up 10%.

Among Scripps Networks channels, Food Network was the most profitable with $199 million in revenue, up 11%. HGTV also performed very well – revenues rose to $195 million.

“Our positive third quarter results demonstrate in a powerful way the ubiquitous nature of our popular lifestyle brands,” CEO Ken Lowe said in a statement.

“Our networks and related businesses engage millions of media consumers every day, not just on television, but on smart phones, tablets, newsstands and in thousands of retail outlets across America. We’ve established ourselves as clear leaders in our ability to influence consumer purchasing decisions in the home, food and travel categories. And in the process, we’ve created tremendous value for our shareholders.”