Scripps Networks reports preliminary Q2 income from operations $400.8M
Q2 EPS consensus $1.52. Consolidated income from operations before income taxes in the second quarter 2017 was $400.8M, an increase of 20.8% compared with the prior year period. The increase was primarily driven by an increase in foreign currency transaction gains and a decrease in interest expense compared with the prior year quarter, along with a loss on the sale of investments in the second quarter of 2016. Consolidated adjusted segment profit was $412.8M, a decrease of 1.6%, compared with the prior year quarter. The decrease was primarily due to the expected increase in programming and selling, general and administrative costs compared with the prior year period. These expenditures were partially offset by the growth in operating revenues in the quarter.