HSN Inc. Q2 Profit Down, Misses Estimates

(RTTNews) - HSN Inc. (HSNIV, HSNI) Thursday posted lower earnings for the second quarter, reflecting higher expenses. However, sales grew by 5 percent year-over-year.

The company's net earnings were down to $40.9 million or $0.76 per share from $43.3 million or $0.79 per share last year. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.77 for the quarter. Analysts' estimates typically exclude one-time items.

Driven by 9 percent growth in digital segment, net sales increased to $855.2 million from $812.6 million a year ago. Analysts estimated revenues of $831.33 million for the quarter.

The company incurred higher operating expenses of $245.76 million compared with $237.47 million last year.

The board proposed a quarterly cash dividend of $0.25 per share, payable September 17 to shareholders of record as of September 3.