BillionToOne wins bullish backing, but Jefferies and Wells Fargo urge caution
Investing.com -- MediaForEurope stock gained 3.3% after the media company reported narrower operating losses for the third quarter despite a decline in revenue.
The Italian media conglomerate posted revenues of €510.8 million in the third quarter, down 4.7% compared to the same period last year. Other revenues fell 15% year-over-year to €67.9 million. However, the company’s adjusted EBIT loss narrowed to €44.2 million, representing an EBIT margin of -8.8%.
For the first nine months of the year, MFE reported total revenues of €1.94 billion, a 3.3% decline YoY, while EBIT fell 51.5% to €61.3 million with a margin of 3.2%. The company noted that excluding costs related to the full acquisition of ProSieben, EBIT would have reached €73.2 million for the nine-month period.
Despite the revenue challenges, MFE’s group net profit surged to €243.1 million for the nine months, compared to €96.2 million in the same period last year.
This significant increase was largely driven by results from equity investments, which amounted to €211.6 million, including a €126.6 million gain recognized following the acquisition of control of ProSieben.
The company maintained its guidance for 2025, suggesting management remains confident in its outlook despite the revenue weakness in the third quarter, which was primarily driven by underperformance in Spain.
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