Central European Media Enterprises (CETV) Tops Q3 EPS by 4c

October 25, 2016 5:57 AM EDT
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Central European Media Enterprises (NASDAQ: CETV) reported Q3 EPS of ($0.14), $0.04 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $126.7 million versus the consensus estimate of $123.3 million.

Michael Del Nin, Co-Chief Executive Officer, commented: "These results are, on a relative basis, arguably the best we have seen all year. Due to the combination of robust revenue growth and effective cost control, we've more than doubled OIBDA in the quarter compared to the same period in 2015. We believe these results keep us well on track to deliver another full year of excellent financial performance."

Christoph Mainusch, Co-Chief Executive Officer, added: "Our results today reflect not just an improvement in profitability, but also better engagement with our audiences as the gap between us and our closest commercial competitor widened in five out of six markets during the third quarter. We believe we continue to provide the most efficient medium for advertisers to reach consumers in all countries in which we operate."

For earnings history and earnings-related data on Central European Media Enterprises (CETV) click here.

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