BERLIN (dpa-AFX) - ProSiebenSat.1 Media SE (PBSFF.PK), a German broadcasting and media company, on Tuesday reported lower earnings and revenues for the third quarter.
Further, the company also said that it sees earnings guidance at the lower end of view and cut the revenue outlook for fiscal 2023.
Adjusted net income decreased 41 percent to 23 million euros from 39 million euros of last year, on higher interest and tax expenses.
Adjusted EBITDA edged up 1.7 percent to 110 million euros from 108 million euros of the prior year, on targeted cost adjustments and profitable revenue growth in the Commerce & Ventures segment.
Revenue declined 3 percent to 888 million euros from 911 million euros of the previous year. The company commented that the Organic revenue growth was almost stable.
Looking ahead to the next quarter the company assumes a slight growth.
For the full year, the company said that it now expects adjusted EBITDA to be at the lower end of the range of 600 million euros plus/minus 50 million euros forecast at the beginning of the year.
Revenues are now expected to be slightly below the target range of 4.10 billion euros plus/minus 150 million euros.
On Monday, ProSiebenSat.1 shares closed at 4.90 EUR, down 4.45% in Germany.
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