France's M6 H1 revenue rises on streaming strength; expects positive cash flow impact from World Cup in H2

Metropole Television SA

28/07/2026 18:54

Overview
France broadcaster's H1 2026 revenue rose 1.8%
Net profit for H1 2026 fell 40.6% due to higher programming costs and ad market weakness
Streaming revenue grew 20%, now 13.3% of Video Division revenue

Outlook
M6 sees 2028 streaming revenue above €200 mln and over 1 bln hours viewed on M6+
Company aims for €80 mln in savings over five years via M6 2030 Plan
M6 expects positive cash flow impact from World Cup in H2 2026

Result Drivers
WORLD CUP IMPACT - Co said World Cup broadcast drove record audience figures and exceptional demand from advertisers, especially in Q2
PROGRAMMING COSTS - Co said higher programming costs from World Cup coverage weighed on profit
NET INCOME - Decreased due to the cumulative impact of a fall in both interest rates and cash holdings
STREAMING GROWTH - Streaming revenue rose 20% and now accounts for 13.3% of Video Division revenue, per co

Company press release: ID:nBw5SQ9KTa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
EUR 643.80 mln
 
H1 Net Income
 
EUR 34.40 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "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 1.4% above its July 28 closing price of €12.08
The stock recently traded at 11 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.)