Russian broadcaster CTC Media (CTCM.O) posted on Friday a forecast-beating 84 percent jump in second-quarter net profit and reiterated its full-year outlook amid continued advertising market growth. Net profit came in at $38.5 million, Russia's biggest broadcaster outside state control said in a statement, compared with $20.9 million a year ago and a $36.4 million average forecast in a Reuters poll. CTC, which runs entertainment TV channels and production companies in Russia and other former Soviet states, also saw earnings rise nearly 70 percent from the previous quarter. Revenues rose 38 percent year-on-year on a comparable basis to a better-than-forecast $204.5 million, and were up 24 percent from the first quarter, reflecting a seasonal pick-up in advertising activity.
CTC Media, Inc. operates three Russian television networks, which include CTC, its flagship network, Domashny and DTV.
