Telecinco Q1 net beats analyst forecasts on solid advertising revenues UPDATE |
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Published
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Tue, 08 May 2007 08:30
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(Updates with more information, market watcher comment)MADRID (Thomson Financial) - Gestevision Telecinco SA said net profit rose 17.4 pct to 86.06 mln eur in the first quarter to March from 73.31 mln a year earlier, beating analyst forecasts for 77.5-79.3 mln eur on solid advertising revenues.In a statement, the Spanish broadcaster said gross advertising revenue rose 8.4 pct to 244.4 mln eur, propelling the group's total net revenues 10.2 pct higher to 251.1 mln eur from 227.8 mln, also topping analysts' forecasts for 240.5-245.0 mln.In a breakdown of the gross advertising revenue, Telecinco said revenues from its television operations rose 7.5 pct to 240.4 mln eur, while other advertising revenues -- including thematic channels, DTT, internet and teletext -- reached 3.97 mln eur.EBITDA increased 15.1 pct to 119.2 mln eur from 103.6 mln, above forecasts for 110.3-114.0 mln eur.The broadcaster's total operating costs for the period rose 5.5 pct to 133.1 mln eur and included DTT and film production costs 'and grew in line with the guidance given by the company.'Not all brokers were completely convinced by the better-than-expected results, citing general sector concerns.'Telecinco is facing more poignant concerns other than immediate revenues, namely audience share over the longer term. I'm not particularly positive on Spain,' a salesman at a leading international bank said.Telecinco currently tops Spanish television audience share, with 20.1 pct in April, above rival Antena 3 de Television SA, with 17.5 pct.Analysts noted that focus will now be on comments at a conference call at 12.00 pm.tfn.europemadrid@thomson.comped/jdy/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Telecinco Q1 net up 17.4 pct at 86.06 mln eur, beats forecasts 