The owner of the advertising site Blocket, the Norwegian Schibsted group, reports an unexpectedly weak result for the second quarter of the year.
The operating profit according to the ebitda measure increased by 1 percent compared to the previous year to 546 million Norwegian kronor. The average forecast among analysts was 570 million according to Bloomberg.
Revenues rose to 2.5 billion Norwegian kronor, an increase of 3 percent. This was slightly more than the expected 2.4 billion.
Following Schibsted's spin-off of the media companies – with a transaction value of 6.3 billion Norwegian kronor – Tinius, among other things, has taken over control of major Swedish media outlets such as Aftonbladet and Svenska Dagbladet.
Reporting Schibsted is, after the spin-off, focused on growth investments and large Nordic marketplaces on the internet, including Blocket.
