TVB narrows net loss by 65% in H1 2024

The company reduced its net loss by $264m.

TVB reported that its net loss has narrowed by 65% year-on-year (YoY) to $143m in H1 2024 from $407m a year ago.

Revenue from core TV-related businesses increased 12% YoY to $1.5b from $1.3b in H1 2023, driven by a 20% revenue growth from its Hong Kong TV Broadcasting segment and a 22% revenue growth from its mainland China operations segment.

This was partially offset by the decline arising from the downsizing of its e-commerce business segment, which caused total revenue for the period to slip 3% to $1.51b from $1.56b in H1 2023.

Loss per share was $0.33, down from $0.93 a year ago.

The board did not recommend the payment of an interim dividend for the period.