Viaplay Continues Financial Turnaround With Reduced Q4 Losses
Reading now: 676
deadline.comSweden’s Viaplay continues to head back towards the black, as its fourth quarter financial results showed losses dramatically shorten.
The Nordic streaming service reported a Q4 operating loss of SEK92M ($8.6M), way down from SEK2.7B last year when the company was firefighting huge financial gaps and moving to a new strategy based around unscripted programs and sports.
Q4’s net loss was also significantly down, from SEK 2.86B to SEK230M. When associated company income (ACI) and items affecting comparability (IAC) were removed, Viaplay actually made an operating profit of SEK174M.
Clearly, a huge chunk of the turnaround has come from cuts, as total net sales in Q4 were actually down slightly at SEK 4.83B, from SEK4.9B a year ago.
Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
