Summary by Futu AI
Television Broadcasts Limited (TVB) announced its mid-year performance for the fiscal year 2024, with a total revenue increase of 12% for the six months ending on June 30, 2024, reaching HK$1.445 billion. The Hong Kong television broadcasting division and the China mainland business division grew by 20% and 22% respectively. The group's total revenue slightly decreased by 3% to HK$1.513 billion, primarily due to the reduction in the scale of the electronic commerce business segment. A positive EBITDA of HK$47 million was achieved during the period, representing an improvement from the EBITDA loss of HK$0.186 billion in the same period last year. The TVB Plus new channel was launched on April 22, 2024, providing rich live programs and news content. The influence of the social media platform expanded, with an average monthly active user base exceeding 20 million. The shareholders' attributable loss decreased to HK$0.143 billion for the period, with a loss per share of HK$0.33. The board of directors does not recommend the distribution of interim dividends.