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UK's ITV meets expectations with 11% earnings rise


Published on 2025-03-06 03:04:07 - Reuters
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  • ITV, Britain's biggest free-to-air broadcaster, met market expectations with a 11% rise in 2024 earnings, reflecting record profit in its Studios production business, an improved margin in Media and Entertainment (M&E) and cost savings.

ITV, a major British broadcaster, reported an 11% rise in adjusted earnings for 2023, aligning with market expectations, as announced on March 6, 2025. Despite a challenging advertising market, ITV managed to increase its earnings before interest, taxes, and amortization (EBITA) to 710 million pounds ($900 million). This growth was supported by a 19% increase in revenue from its streaming service, ITVX, which now boasts 13.6 million registered users. However, total group revenue saw a slight decline of 2% to 4.3 billion pounds, primarily due to a 7% drop in advertising income. ITV also announced a new share buyback program worth 225 million pounds, reflecting confidence in its financial stability and future growth prospects.

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