FAN Communications reports sharp fall in first-quarter net profit
Updated
Updated · MarketWatch · May 8
FAN Communications reports sharp fall in first-quarter net profit
3 articles · Updated · MarketWatch · May 8
The Japanese company posted net profit of Y108 million for the quarter ended 31 March, down from Y389 million a year earlier, while revenue slipped to Y1.73 billion from Y1.86 billion.
Operating profit fell to Y273 million from Y594 million, pretax profit dropped to Y225 million from Y565 million, and earnings per share declined to Y1.63 from Y5.88.
The results were prepared under Japanese accounting standards, underscoring a broad year-on-year weakening across FAN Communications' top line and profitability in the opening quarter.
Amidst a booming digital ad market, why did one Japanese firm's profits collapse by over 70%?
Is this company's decline a warning sign for Japan's entire traditional digital advertising sector?