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Nine (ASX:NEC) share price surges after AGM update // Motley Fool Australia
Nine Entertainment Co Holdings Ltd (ASX: NEC) announced that its FY21 first half earnings are expected to increase 30% on a rebound in advertising revenues. The Nine share price has jumped up 7.42% to $2.54 following the annual general meeting (AGM) announcement.
What are some highlights from the AGM
Nine advised that since the third quarter, its free-to-air advertising (FTA) market share had risen due to major events such as the State of Origin and NRL finals. Its fourth quarter results are now expected to show growth in FTA advertising revenue of around 15%.
Digital revenue for the period to 31 October is up by around 4% underpinned by Domain’s strong performance, with total group revenue down 7%.
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