France's M6 Q1 revenue hit by weak video ads; says FIFA World Cup to boost ad rev, hit profit

Metropole Television SA

28/04/2026 11:15

Overview

France broadcaster's Q1 revenue fell 5.5% due to weaker video advertising market

Q1 EBITA rose €1 mln to €49.1 mln as operating margin improved to 16.5%

Streaming revenue jumped 23.6%, with M6+ unique users up 14% yr/yr

Outlook

Company expects strong viewership and higher advertising revenue from FIFA World Cup broadcast in Q2

Company says FIFA World Cup will negatively affect operating profitability in Q2

M6 confirms streaming revenue target above EUR200 mln in 2028 and over 1 bln hours viewed

Result Drivers

WEAKER VIDEO ADVERTISING - Co said a weaker economic environment hurt video advertising revenue, leading to a 5.9% decline in group advertising revenue

STREAMING GROWTH - Streaming revenue rose 23.6%, partially offsetting declines in linear video advertising

COST CONTROL - Tight cost control helped increase EBITA and operating margin despite lower revenue

Company press release: ID:nBw4YhzZBa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 297.70 mln
Q1 EBITA
EUR 49.10 mln


Analyst Coverage

The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 4 "sell" or "strong sell"

The average consensus recommendation for the broadcasting peer group is "buy."

Wall Street's median 12-month price target for Metropole Television SA is €12.25, about 3.2% below its April 27 closing price of €12.66

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)