April 30, 2020 / 6:55 AM / a month ago

Mediaset Espana profit falls as coronavirus hits advertising market

FILE PHOTO: The headquarters of Mediaset Espana is seen outside Madrid, Spain, April 13, 2016. REUTERS/Andrea Comas

MADRID (Reuters) - Mediaset Espana (TL5.MC) reported an 8% fall in first-quarter net profit on Thursday as the coronavirus pandemic dented the Spanish advertising market.

Italy’s Mediaset’s (MS.MI) Spanish unit said net profit fell to 48.9 million euros ($53.13 million) in the first three months of the year, while gross advertising revenue shrank 9.3% to 202.8 million euros.

“In the first quarter of 2020, the Spanish advertising market has suffered the impact of the COVID-19 crisis, which began in mid-March, with the start of social lockdown,” the company said in a statement.

Reporting by Jose Elías Rodríguez, Editing by Inti Landauro and David Evans

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below