ITV Expects Fourth-Quarter Ad-Revenue Drop as Brexit Weighs
- U.K. broadcaster sees ad revenue down 7 percent in period
- Full year seen down 3 percent, with ITV outperforming market
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ITV Plc, the U.K. broadcaster known for the soap opera Coronation Street, forecast fourth-quarter revenue from advertising will drop 7 percent as companies have become more careful over political and economic uncertainty since the country’s June vote to leave the European Union.
Full-year ad revenue is expected to be down 3 percent, though ITV expects to outperform the market this year and next, the London-based company said in a statement Thursday. ITV provided the forecast as it reported nine-month financial results, including a 4 percent drop in ad revenue in the third quarter.