HSN profit falls 27% in Q3

St. Petersburg, Fla. -- Multichannel retailer HSN Inc. reported Wednesday that net income for the third quarter dropped 27.2% to $17.7 million, from $24.3 million in the year-ago period. Results still beat Wall Street projections.

Revenue rose 7.1% to $778.8 million, beating analysts’ estimated $747.1 million in revenue.

The company has now seen profit fall in two consecutive quarters, but it has beaten Wall Street estimates for three quarters in a row.

“Our strong financial performance during the quarter demonstrates the sustained effectiveness of our overall strategy of creating immersive experiences, offering differentiated products and leveraging technology to build relationships, not just transactions,” said Mindy Grossman, CEO, HSN.

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