Ten share price slides after warning of ‘short’ ad market

Miranda Ward

October 20, 2016 5:03

Network Ten’s share price dived by nearly 20% today following the company’s financial results presentation in which Ten CEO Paul Anderson warned of an “extremely short” advertising market.

This morning the company reported an underlying profit of $4.5m, the company’s first profit in three years.

However, the market reacted quickly to Ten’s results – and flat outlook – with its share price (ASX: TEN) dropping from $1.42 at open to $1.18 by 11.25am.

Be a member to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Become a member

Miranda Ward

Miranda Ward worked for Mumbrella from 2013 to 2017, eventually becoming deputy editor. Miranda joined Mumbrella in September 2013 from Sky News.