Ad Surge Lifts Bertelsmann Figures
First Three Quarters Show Turn-around for German Media Giant
COLOGNE, GERMANY – Nine-month results at German media giant Bertelsmann showed a 3.5% jump in revenues to 11 billion Euros ($15 billion) and net profit of 357 million Euros, compared to a 246 million Euro loss over the same period last year.
Bertelsmann’s numbers are the latest in a string of positive earnings reports that all point to a strong recovery in advertising market. Bertelsmann, which owns European broadcaster RTL Group, publisher Random House and magazine group Gruner + Jahr, is strongly dependent on advertising revenues.
Bertelsmann expects the good times to keep rolling and is forecasting a boost in sales and profits for the year, with net profits forecast to top 500 million Euros.