Scripps Networks Interactive Inc. posted a second-quarter profit jump of 49 percent as its media division turned in a strong financial performance to offset a continued decline in advertising revenue, the Wall Street Journal reported Thursday.
The digital arm of Scripps listed second-quarter earnings of $79.5 million up from $53.2 million for the same period a year earlier. Revenue was down 3.7 percent to $391.3 million.
The company's interactive media division suffered through weak demand and what the company described as a "less-favorable sponsored-link revenue-sharing agreement with Google Inc.," leaving revenue down 29 percent. Profit was down at 43 percent at the interactive division as the company continued to down size in response to the economic downturns affect on the market, according to the WSJ.
The parent company of HGTV and Food Network branched off from E.W. Scripps Co. last July in a move to separate the company's digital existence during the advertising decline. However, the separation did not anticipate the affect on online advertising of the economic downturn.

