Brief: Media house Schibsted Q2 earnings beat forecast

Vend Marketplaces ASA

18/07/2017 06:47

(Adds detail, analyst) 
    July 18 (Reuters) - Schibsted ASA  SBSTA.OL : 
    * Q2 EBITDA ex investment phase NOK 880 million ($108.38 
million)(Reuters poll NOK 834 million) 
    * Q2 EBITDA NOK 694 million (Reuters poll NOK 645 million) 
    * Q2 revenues NOK 4.3 billion (Reuters poll NOK 4.29 
billion) 
    * "Within Online classifieds, we continue to see good 
revenue growth combined with operational leverage," CEO Rolv 
Erik Ryssdal said in a statement 
    * "First impression is positive," says Danske Bank Markets 
analyst Martin Stenshall, who has a "buy" rating on the stock. 
"Management guides investments further planned to be reduced in 
H2 2017 and in 2018."  
    * Outlook: Schibsted keeps guidance of 15-20 percent revenue 
growth in online classifieds, its top division, for mid to long 
term 
    * In online classifieds, Schibsted says full-year 
investments are expected to go down versus 2016, and the 
investments are expected to go down sequentially quarter by 
quarter in 2017 
    * On investments in Technology and Online Product 
Development, Schibsted says: "In 2018, we will be able to take 
advantage of efficiency effects and reduce duplication of 
efforts within product and technology" 
 
Source text for Eikon:  ID:nGNEbSclZ5  
Further company coverage:  SBSTA.OL  
($1 = 8.1195 Norwegian crowns) 
 
 (Reporting by Gwladys Fouche; Editing by Himani Sarkar) 
 ((gwladys.fouche@thomsonreuters.com;)) 
 
Keywords: SCHIBSTED RESULTS/