ProSieben raises full-year target a third time after Q3 results

FILE PHOTO: The logo of German media company ProSiebenSat.1 in front of its headquarters in Unterfoehring

BERLIN (Reuters) – German broadcaster ProSiebenSat.1 Media on Thursday raised its 2021 full-year guidance for a third time this year after reporting a 15% jump in third quarter revenue at 1.06 billion euros ($1.23 billion).

Its advertising business in the entertainment segment in particular surpassed its pre-pandemic levels, growing 18% year-on-year in the quarter, ProSieben said.

The company is now aiming for revenue of 4.45 billion to 4.55 billion euros for the full year, an increase of 10% to 12% year-on-year.

($1 = 0.8633 euros)

(Reporting by Miranda Murray; Editing by Riham Alkousaa)