Earnings Updates: Mecom Slips, Informa Holding Up, Sony Slashes Forecast

Mecom: The European newspaper publisher is finding it tough going in the current battlefield of display advertising, reporting revenues 2.6 percent down for the three months to September 30. In a trading update, the company blamed the slump on July and August summer holidays but admitted ad revenue for same period was down 7.2 per cent and nine per cent down for September alone. This was offset by improved income from digital revenues, but Mecom said the worsening outlook meant full-year EBITDA would drop 10 percent lower than market expectations, despite a programme of cost-saving measures. Release.
Informa: The B2B publisher and Datamonitor owner Informa said publishing revenues were 10 percent higher for the year to date. More sheltered from the consumer ad downturn in the B2B, Informa benefits from running substantial events and academic/medical information subscription businesses. The company said Datamonitor has seen good sales growth but had suffered from a slow growth in subscribers. Informa promises another update mid-December. Release.
Sony: Looks like the credit crunch is biting into home-electronics spending. Sony (NYSE: SNE) is knocking a big 38 percent off its expected 2008/09 net income, down to 150 billion yen (£956 million) — thanks to slowing sales of gadgets and currency market fluctuations: “We expect the results of certain businesses in the electronics segment, such as the LCD television, compact digital camera and video camera businesses, to be lower than the previous forecast due to a deterioration in the market environment brought on by the slowing global economy and an intensification of price competition.” More at paidContent.org