Axel Springer Posts Upbeat Q1 Results

Axel Springer AG AXELF reported a 10% rise in its net profit for the first quarter. Axel Springer's quarterly net profit climbed to EUR60.7 million, from EUR55 million in the year-ago period, and versus analysts' estimates of EUR57 million. Its revenue rose 7.1% to EUR789 million from EUR736.7 million, versus analysts' estimates of EUR776 million. Earnings before interest, taxes, depreciation, and amortization climbed to EUR136.5 million, versus analysts' estimates of EUR134 million.