The Norwegian conglomerate Schibsted reports a lower operating result before interest, taxes, depreciation, and write-downs than expected. The profit of 337 million Norwegian kronor can be compared to the 500 million that analysts on average had expected.
Schibsted writes in its annual report that the result has been negatively affected by a declining advertising market and macroeconomic factors.
Until last year, Schibsted included a number of Nordic media companies, but then chose to divest them. Now, it primarily comprises large online marketplaces, such as the website Blocket.
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