ITV 9-month Total Revenue Up 5%

ITV Plc (ITV.L) said Wednesday that total revenue for the nine months ended 30 September 2018 rose 5 percent from the year-ago period and the company’s overall performance for the period was in line with its expectations.

For the nine months ended 30 September 2018, ITV’s total revenue grew 5 percent to 2.62 billion pounds from 2.49 billion pounds in the year-ago period. Total external revenue rose 6 percent from last year to 2.26 billion pounds, with continued growth across all parts of the business.

While Broadcast & Online revenues increased 2 percent to 1.51 billion pounds, ITV Studios revenues rose 10 percent to 1.11 billion pounds. ITV Studios organic revenue increased 7 percent.

Looking ahead to the full year 2018, ITV said it expects to deliver good growth in total ITV Studios revenues and profit in line with its expectations. Organic revenue growth for ITV Studios is expected to be around 3 percent over the full year.

However, ITV added it is seeing some softening in ITV Family NAR in the fourth quarter due to the increasingly uncertain economic environment. As a result, it expects total advertising revenue to be down around 3 percent in the fourth quarter and broadly flat over the full year.