HELSINKI, April 30 (Reuters) - Finnish media company Sanoma Oyj on Wednesday reported falling quarterly sales and a flat operating loss as cost-cuts partly offset a decline in advertising sales in its key markets.
Sanoma’s core operating loss in the quarter was about 4 million euros ($5.53 million), compared to analysts’ average expectations of a 13 million euro loss.
Its sales fell 7 percent from a year ago to 438 million euros as print advertising revenues in Finland and the Netherlands dropped 19 percent.
Sanoma, which has been hit by a slowdown in the European economy as well the shift from print to digital media, repeated its full-year outlook for falling sales and core operating profit margin.
$1 = 0.7237 euros Reporting By Jussi Rosendahl; Editing by Matt Driskill