Axel Springer: falls short of consensus in 1st quarter
(CercleFinance.com) - Axel Springer plunges 5% in Frankfurt after the media group announced an adjusted EPS up 1% to 63 euro cents for the first quarter, falling five cents short of analysts' average estimates.
Its adjusted EBITDA increased 16.3% to 171.2 million euros, making for a margin improvement of 0.8% to 22.1%, with revenue growth of 6.9% to 773.5 million euros (+4.7% organically).
Axel Springer's management confirms its full-year growth targets, saying it expects “a rise in the low to mid single-digit percentage range” for revenue and adjusted EPS, and adjusted EBITDA “to rise by a figure in the low double-digit percentage range”.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Its adjusted EBITDA increased 16.3% to 171.2 million euros, making for a margin improvement of 0.8% to 22.1%, with revenue growth of 6.9% to 773.5 million euros (+4.7% organically).
Axel Springer's management confirms its full-year growth targets, saying it expects “a rise in the low to mid single-digit percentage range” for revenue and adjusted EPS, and adjusted EBITDA “to rise by a figure in the low double-digit percentage range”.
Copyright (c) 2018 CercleFinance.com. All rights reserved.