Sanoma shares down as co misses Q2 estimate

Sanoma Oyj

27/07/2022 09:45

** Shares of Sanoma  SANOMA.HE  slump 6.7% after co
published Q2 lower-than-forecast results  urn:newsml:reuters.com:*:nTUA7VP25H
    ** The company's net sales were at 313 mln euros ($317.41
mln), below infront consensus of 320 mln euros 
    ** Revenue growth miss driven by both Learning and Media
Finland segments, Inderes analyst Petri Gostowski says
    ** In Learning, late regional government decisions in Spain 
led to a significant net sales shift to Q3 from Q2, which in
turn drove the revenue down in Q2
    ** The revenue shift in Learning segment also caused
operating profit miss, Inderes says
    ** Inderes adds the earnings per share for the quarter were
below expectations 
    ** While co reiterated its forecast, Inderes says following
the Q2 report its forecast for the company will shift in the
near-term, however, the change is not of great importance
overall

     ($1 = 0.9861 euros)
    

 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))