PRAGUE, April 27 (Reuters) - Core profits at broadcaster Central European Media Enterprises (CME) rose 44 percent at constant exchange rates in the first quarter, slightly above market expectations, the company reported on Wednesday.
Boosted by stronger television advertising markets, operating income before depreciation and amortisation (OIBDA) increased to $17.1 million, beating the average estimate of $16.3 million in a Reuters poll of analysts.
CME said TV advertising revenues grew by 4 percent in the first quarter, while the company expanded its market share in its two largest markets, Czech Republic and Romania.
Total revenue for the quarter was up 2.3 percent at $129 million, while at constant exchange rates it increased 4.3 percent.
CME has in recent years undergone a programme of restructuring, cost cuts and divestments, backed by cash injections and financing deals from top shareholder Time Warner.
$1 = 0.8843 euros Reporting by Robert Muller; Editing by Mark Potter