NZME lowers FY earnings guidance but upbeat about 4Q

NZME chief executive Michael Boggs (Image: NZME)

Mon, 11 Nov 2024

New Zealand Media and Entertainment (NZME) lowered its full-year earnings guidance on weaker-than-expected third-quarter advertising revenue and its anticipated full-year expense outlook. NZME now expects earnings before interest, taxes, depreciation, and amortization (ebitda) to be between $53 million and $55m for the year Dec 31. The company said it was expected to be at the lower end of the Ebitda range in late August, previously issued at $57m to $61m. “Given the delayed economic recovery, advertising revenue was weaker tha...

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