MONTREAL – The rebound of the broadcasting advertising sector was a key factor in TVA Group’s third quarter results.
The Quebecor Media subsidiary reported that operating income in its television sector was up by 52.7% ($3.51 million) to $10.12 million compared with $6.67 million in the same quarter of last year. The company attributed the gain to a 62% increase in TVA Network’s operating income, which in turn was driven by an 8.3% jump in advertising revenues.
Its publishing sector, however, reported a 14% drop in operating income from $3.68 million in the third quarter of 2009 to $3.16 million in the third quarter of 2010.
"We are pleased with the third quarter financial results, as we posted operating income growth in an advertising market that remains precarious and short term”, said president and CEO, Pierre Dion, in a statement. “TVA Network’s advertising revenues were up 8.3% in the third quarter of 2010, and at our specialty services, advertising revenues increased 17.2% compared with the same quarter of 2009.”
For more on the company’s third quarter financial results, click here.
