Net revenues for the company, which operates 33 channels in six CEE territories, grew 9% to 126.1m USD.

In a prepared statement, Co-CEO Christoph Mainusch noted: “We have maintained our audience share leadership while controlling overall costs.” He predicted that ad revenues would rise as economic growth returns to the region.

Co-CEO Michael Del Nin said: “The results for this quarter demonstrate that the momentum that we built during last year has continued into 2015.” He pointed to the growth in OBIDA “despite the significant strengthening of the dollar.”

Despite the positive remarks CME stock fell by some 10 percent in the week following the release of first quarter results, ending at 2.50 USD on 7 May 2015. Investor advisors specializing in the company have placed a “hold” status on the stock, and predicted a one-year target price of 3.25 USD per share.