TVN had PLN 329m (EUR 86.9m) of sales in the first quarter, and PLN 297m excluding sales generated by Onet internet portal. They were 26 percent higher than in the same period of last year. Advertisement sales rose from PLN 188m to PLN 248m, mainly thanks to TVN program.
“The sales were expected”, Lukasz Kolaczkowski from Millennium DM said.
Despite no negative tendencies, the stock fell yesterday.
“This is because the net income was lower than expected. It shouldn’t be that important to investors because weak net income is the result of unfavorable exchange rates and is temporary. There is nothing to worry about in TVN operations”, Dorota Puchlew, BDM PKO BP analyst said.
The net income amounted to PLN 47m, while the average forecasts amounted to PLN 60.6m.
(PLN 1 = EUR 0.264)