Domestic advertising sales lift Mediaset’s first quarter operating profits By Reuters

MILAN (Reuters) – Italy’s top commercial broadcaster Mediaset on Wednesday posted a 63% rise in first-quarter operating profit thanks to lower costs and rebounding advertising sales in its domestic market after last year’s pandemic-driven slump.

The broadcaster controlled by the family of former Prime Minister Silvio Berlusconi reported a first-quarter group operating profit of 67.9 million euros ($82.40 million) compared with 41.6 million euros last year.

Domestic advertising revenue rose 6% to 453.5 million euros while total advertising sales fell to 625 million euros from 630 million euros a year ago. Total operating costs fell 11.6% to 566.3 million euros, the broadcaster said.

($1 = 0.8241 euros)