Viaplay stumbles after Q1 EBIT miss
23/04/2024 11:28
** Shares in Viaplay VPLAYb.ST fall as much as 13% after
the Swedish video streaming company reported weaker than
expected Q1 earnings and a fall in number of subscribers
** Q1 adjusted EBIT came in 7% below consensus, Kepler
Cheuvreux says via Swedbank Aktiellt equity research service
** The brokerage notes that Viaplay saw number of
subscribers falling by 6,000 as the positive intake in the
Netherlands could not offset the outflow in the Nordics
** Viaplay also blamed user account sharing for the muted
growth, which Kepler says is also slowing down its efforts to
increase revenue
** The stock pares some losses and is down around 7% by
1027 GMT; it rose 10% on Monday ahead of the results but has
lost more than 50% of its value so far this year
(Reporting by Agnieszka Oleńska)
((Agnieszka.Olenska@thomsonreuters.com;))