Notes and observations from Nine's half-year earnings calls
What we learned from the half year results from one of the country's biggest media companies.
If members of Nine Entertainment's executive team were hoping that rising revenue from streaming platform Stan or initiatives in AI would distract investors from a bleak television advertising market today, then they would have been sorely disappointed.
Shares in the television and publishing company crashed 8.7% to $1.68 - their lowest levels since the pandemic, despite a reasonably positive response from analysts.
E&P media analyst described it as a "good result" that was ahead of consensus expectations. But he noted that the outlook for TV is "more difficult than expected", and the market seemed to agree on this point.
Nine posted a 27% decline in net profit after tax and minorities to $133.7 million, down on the $183.1 million reported in the first half of last year. Revenue for the half was $1.37 billion, down 2% on $1.4 billion.
