Agora's Q3 earnings outstrip expectations

"The net result is slightly better than expectations since there is a small profit instead of a loss, but the results year on year are still very bad," commented Sobieslaw Pajak, an analyst with CDM Pekao. However, the market welcomed the news and the price of Agora's shares increased by 7% during the day. Agora's revenues amounted to zl.245.2 million, as expected. "The third quarter was disappointing. The expenditures on advertising grew more slowly than we had expected," admitted Agora's president, Wanda Rapaczynska. Despite the poor Q3 on the advertising market, Agora stands by its forecast of an advertising market increase of 10-11% this year. Expenditures on advertising in dailies are to grow by 4%. (Puls Biznesu, p. 13) E.B.