Sometimes it takes the news to make the news. That’s certainly the case for Television Broadcasts Ltd. (0511.HK), or TVB, Hong Kong’s leading broadcaster, which is basking in the spotlight of success for its series “The Queen of News,” centered on the news industry.
After taking both Hong Kong and Mainland China by storm last year, the company announced last week that it expected to achieve “significant positive earnings before interest, taxes, depreciation and amortization” (EBITDA) this year. As an encore, it added, it expects to report a profit in the second half of the year.
The profit milestone would mark the first time TVB was in the black for a half-year period since the first half of 2019. The last time the company was profitable for a full year was even earlier in 2017. Investors applauded the announcement by lifting TVB shares more than 11% the next day.