Bad Q3 results make TF1 share price dive 12%
Pascale Paoli-Lebailly ©RapidTVNews | 13-11-2011 Directly impacted by the 93% fall of its Q3 net profit to €6.6m, TF1's share price dived 12% on Friday morning at the Paris Stock Exchange.
Financial markets reacted to the French private TV group’s anticipation of a decline of its 2011 full-year revenue. Though it posted a Q3 revenue of €561.2m, up 3.7 % compared with the same period of 2010, TF1 Group has been prompted by the current uncertain economic climate to anticipate a decline of around 1% in 2011 full-year consolidated revenue instead of first forecasts of stability. TF1 operating profit also fell down 92.3% on Q3 to €9m.
According to some analysts TF1 is particularly impacted by the evolution of French advertising market and the tough competition between channels in prime-time slots.