ITV, a British broadcaster, has seen a boost in advertising revenue thanks to the World Cup. The company reported that over 200 brands advertised during the tournament, including some new to TV. However, ITV forecasts a 5% drop in ad revenue for the third quarter.

Financial Performance

ITV’s operating profit remained flat at £146 million for the first half of the year, slightly below analyst expectations. The company’s Studios division saw a 9% decline in profit, partly due to scheduling changes for long-running soaps like ‘Coronation Street’.

Despite the expected decline in ad revenue, ITV’s CEO Carolyn McCall stated that the company is on track to deliver good revenue growth in its Studios division and strong, profitable digital revenue growth within its Media & Entertainment broadcast business for the full year.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.