Ten Network Holdings (ASX:TEN) has reported a 2.1% increase in revenue growth, which was higher than it expected for the first half of the 2017 financial year.
However, the media company says its growth in revenue was not enough to offset the weak conditions in the TV advertising market, as well as the company’s increased content and other costs.
As a result, it experienced a loss of $2.4 million in television earnings before interest, tax, depreciation and amortisation (EBITDA) for the period.
Ten also reported a net loss attributable to members of $232.2 million for the period.
Shares in Ten Network Holdings (ASX:TEN) are 15.73% lower at 37.50 cents.