ITV down 8% after Q3 ad revenues slow and broadcaster eyes a further £20m of cost cuts
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ITV PLC's share price dropped by 8% following a report of flat advertising revenue in Q3 and plans for £20 million in cost cuts. The company projects a modest 2.5% growth in ad revenue for the year.
November 07, 2024 | 8:45 am
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ITV PLC's share price fell 8% due to flat Q3 ad revenues and plans for £20 million in cost cuts. The company expects only a 2.5% growth in ad revenue for the year.
The 8% drop in ITV's share price is directly linked to the disappointing Q3 ad revenue results and the announcement of cost cuts, indicating investor concern over the company's financial health and growth prospects.
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