Warsaw (Puls Biznesu) – TVN is in the red but sales grew 20 percent. The fourth quarter should be better because the number of viewers grows.
TVN stock price was falling yesterday after the company said it had PLN 3m (EUR 783,000) of net loss. A year earlier, it generated PLN 36m of net income.
“Third quarter results are mainly connected with the option program and bigger financial costs”, Karen Burgess, TVN deputy CEO said.
The result was in the down range of the forecast polled by PAP news agency. They expected from PLN 46m of net income to PLN 3.8m of net loss.
However, sales of TVN grew in the third quarter by 24 percent to PLN 215m. TVN promises better sales in the fourth quarter thanks to growing audience. In September and October it had 25.2 percent audience among its target group and 18.9 percent audience in the whole population.
(PLN 1 = EUR 0.261)