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ProSiebenSat.1 Media Q2 Profit Declines, Revenue Up; Confirms FY19 Outlook

German commercial broadcaster ProSiebenSat.1 Media AG (PBSFF.PK) reported Wednesday that its second-quarter net income attributable to shareholders declined 26 percent to 93 million euros from 126 million euros a year ago.

Adjusted net income was 85 million euros, compared to previous year's 136 million euros. Adjusted earnings per share were 0.37 euro, compared to 0.60 euro a year ago.

Adjusted EBITDA declined 18 percent to 213 million euros from 259 million euros last year.

Revenues grew 4 percent to 947 million euros from previous year's 912 million euros. The organic revenue increase was 4 percent, driven by growth in the Content Production & Global Sales and Commerce segments, despite weakness in the Entertainment segment:

Further, the company confirmed its financial targets for full-year 2019. ProSiebenSat.1 continues to aim for a revenue increase in the mid-single-digit percentage range and an adjusted EBITDA margin between 22 percent and 25 percent.

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