Axel Springer Posts Rise In Q3 Earnings

Axel Springer SE AXELF reported a rise in its third-quarter earnings. Axel Springer's quarterly earnings before interest, tax, depreciation and amortization, excluding one-off items, rose 1.9% to 97.8 million euros ($122.4 million). The company's consolidated net income surged to 87.4 million euros, from 31.0 million euros. On an adjusted basis, consolidated net income gained to 47.9 million euros from 46.2 million euros. Its revenue gained 8.2% y/y to EUR741.1 million. The company also confirmed its forecast for the full year. For fiscal year 2014, the company projects low double-digit percentage gain in EBITDA, and a mid-single-digit percentage rise in revenue.