France’s leading commercial broadcaster TF1 has lowered its revenue guidance for 2011 as a result of lower than expected advertising revenues in the third quarter. The broadcaster now expects full-year sales to be down by about 1% year-on-year rather than flat.
Third-quarter revenues were down 3.7% to €561.2 million, pushing the figure for the first nine months down 0.7% to €1.839 billion. TF1 channel ad sales for the nine months were down 1.6% to €1.054 billion, while revenues from other activities were up 3.9% to €784.4 million, thanks in part to the acquisition of digital channels TMC and NT1.
Net profit for the first nine months was €125.2 million, down 26.2%.
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