April 30, 2014 / 5:51 AM / 3 years ago

Finland's Sanoma reports quarterly loss

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

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