Berlusconi's Mediaset Slumps Amid Higher Than Expected Net Loss
- TV broadcaster posted quarterly advertising sales increase
- Mediaset expects full-year net income after quarterly loss
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Mediaset SpA had its biggest intraday drop in almost 18 months after the broadcaster controlled by former premier Silvio Berlusconi reported a wider quarterly net loss higher than analysts estimated.
The Milan-based company said late Tuesday that its third-quarter net loss was 60.1 million euros ($65 million). That missed an average analysts’ estimate of 51 million euros. Mediaset fell as much as 8.7 percent to 4.31 euros, the largest intraday drop since May 15, 2014.