The Berlin-based publisher reported that contributions from Digital Windowamong others drove earnings which helped offset a decline in traditional print advertising and helping the digital media sales segment of Axel Springer rise by 62.6%
Axel Springer reiterated on Wednesday it sees annual core earnings likely surpassing the company's 2008 record level of 486.2 million euros.
"Given our expectations for Q4 this outlook looks quite conservative for us," LBBW analyst Andreas Heinold said, adding that the stock looked attractive nevertheless and that he kept his "buy" rating.
Axel Springer, which has been at pains to compensate sluggish growth in its domestic print business by expanding internationally and online, said international revenue grew almost 50% in the first nine months of the year.
Its digital media segment sales rose 62.6%