ROME -- Advertising sales for Italian broadcaster Mediaset are on the rise, resulting in a 5.4% increase in revenue and a slight uptick in profit during the first nine months of the year compared with the same frame a year ago, the company said Tuesday.
But the profit levels disappointed analysts, who expected greater cost-cutting and more robust ad sales.
In a conference call with reporters and analysts, Luigi Colombo, the head of Publitalia, Mediaset's advertising subsidiary, said that ad sales began increasing around midyear and that the robust pace of sales has continued into the fourth quarter.
"October was strong, November is already showing improvement compared to the same month in 2006, and we believe December will also bring good news," Colombo said. He added that he expected Mediaset's ad sales for 2007 to surpass 2006 levels despite a slow start to the year. As of the end of September, ad sales remained 0.4% behind the 2006 pace.
But the profit levels disappointed analysts, who expected greater cost-cutting and more robust ad sales.
In a conference call with reporters and analysts, Luigi Colombo, the head of Publitalia, Mediaset's advertising subsidiary, said that ad sales began increasing around midyear and that the robust pace of sales has continued into the fourth quarter.
"October was strong, November is already showing improvement compared to the same month in 2006, and we believe December will also bring good news," Colombo said. He added that he expected Mediaset's ad sales for 2007 to surpass 2006 levels despite a slow start to the year. As of the end of September, ad sales remained 0.4% behind the 2006 pace.
- 11/7/2007
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