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HSN Misses Third-Quarter Profit Forecasts

The home shopping network operator posted revenue of $823 million in the period.

Associated Press

07 November 2016

ST. PETERSBURG, United States — HSN Inc. (HSNI) on Monday reported third-quarter earnings of $20.2 million.

On a per-share basis, the St. Petersburg, Florida-based company said it had net income of 38 cents. Earnings, adjusted for asset impairment costs, came to 52 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The home shopping network operator posted revenue of $823 million in the period.

HSN shares have decreased 29 percent since the beginning of the year. The stock has declined 35 percent in the last 12 months.

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