TF1 up as Q3 profit beats forecasts, rugby WC boosts ad sales

Television Francaise 1 SA

27/10/2023 11:28

** Shares in Television Francaise 1 (TF1)  TFFP.PA  rise
around 2% after Q3 operating profit beats estimates and rugby
World Cup boosts advertising gains
    ** The French media group posts Q3 current operating profit
of 50.6 mln euros ($53.5 mln), up 1.2% from last year;
J.P.Morgan says this was 8% ahead of consensus
    ** Consolidated revenue falls 8% to 509.4 mln euros, but key
advertising revenue rises 7% to 350.8 mln euros driven by the
rugby World Cup
    ** The company says H2 advertising market could return to
2022 levels, as it will continue to gain from the final stages
of the World Cup
    ** It confirms 2023 guidance for a broadly stable operating
margin from its activities 
    ** The shares have lost about 23%, or about 2 euros, from
their 2023 peak in April

($1 = 0.9465 euros)

 (Reporting by Pierre John Felcenloben)
 ((pierrejohn.felcenloben@thomsonreuters.com))