Shares in Seven West Media soared after the media group posted a strong trading update.
A short time ago, the shares were up 22% to $0.49.
Seven’s advertising revenue, including BVOD, is estimated to grow more than 45% in the June quarter.
Early indications suggest positive momentum into the September quarter.
Digital earnings continue to grow strongly, with Seven digital expected to contribute earnings before interest, tax, depreciation and amortisation (EBITDA) of more than $60 million in the year to June, up 130% year-on-year.
Digital earnings are expected to more than double in the 2022 financial year.
Seven now expects underlying EBITDA to be between $250 million and $255 million in the year to June compared to analyst consensus of $235 million to $245 million.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.