HSN beats Street with Q4 results; digital, mobile sales soar

St. Petersburg, Fla. – HSN Inc. had a successful fourth quarter of fiscal 2014, beating Wall Street estimates for both net income and sales. Net income rose 11% to $68.3 million from $61.6 million, while net sales grew 10% to $1.12 billion from $1.1 billion.



Digital grew 12%, reaching a milestone of representing more than half HSN’s business. Mobile remains the company’s fastest-growing platform with a growth of 40% in the quarter.



"HSN's performance gained momentum throughout 2014, culminating in strong customer growth and record digital and mobile sales," said Mindy Grossman, CEO of HSN. "These results demonstrate how we are capitalizing on our unique position at the intersection of technology, media and retail and the power of leveraging content across our multiple platforms to drive commerce."



For the full fiscal year, net income fell 3% to $173 million from $178.4 million. Net sales rose 5% to $3.59 billion from $3.4 billion.