Source: Sharecast
In the six months to 30 June, group adjusted earnings before interest, tax and amortisation fell 31% to £146m, on revenue of £1.8bn, down 3% on the same period a year earlier.
Adjusted pre-tax profit declined 44% to £99m and total advertising revenues were down 7% to £824m.
ITV said the comparison with the same period a year earlier was impacted by a "very strong" advertising period in the first half of 2024, driven by the Men's Euros.
The broadcaster also announced an additional £15m in permanent non-content cost savings, taking the total group permanent non-content savings in 2025 to £45m. ITV said there will be a one-off cost of £40m to achieve the total group savings.
Chief executive Carolyn McCall said: "ITV is now a leaner, more digital business in a strong position to compete and succeed in a changing market. We have the agility and capability to make the most of new revenue opportunities while driving profitable growth, strong cash generation and attractive returns to shareholders.
"ITV Studios continues to see positive momentum, with strong growth in external revenues in H1, driven by content for the global streaming platforms, including The Devil's Hour for Amazon Prime Video, and Run Away for Netflix.
"In M&E, ITVX continued its strong performance despite comparatives of the men's Euros, and Broadcast maintained its strength in delivering the biggest commercial audiences in the UK. This reinforces M&E's market-leading position in UK Streaming and Broadcast, delivering strong cash generation.
"We are on track to deliver our 2026 key financial targets, with sustained good growth in ITV Studios and ITVX coupled with strategic cost management as we reshape our cost base to reflect the dynamics of the industry in which we operate."
At 0955 BST, the shares were up 8.6% at 84.17p.