Future (FUTR) Q3 2025 TU earnings summary

Executive summary

• Trading in Q3 2025 aligned with expectations, maintaining trajectory for full-year targets.

• Organic performance met forecasts, with strategic focus on engagement and product innovation.

Financial highlights

• US advertising grew 5% year-over-year in Q3; UK advertising decline improved to (8)% year-over-year.

• eCommerce affiliate revenues declined as anticipated; magazine revenues showed improved resilience.

• B2B segment improved over H1, though enterprise technology remained soft.

• Go.Compare performance moderated after strong Q3 2024, reflecting car insurance market trends.

Outlook and guidance

• On track to meet FY 2025 consensus: revenue £744.9m (range £738.0m–£771.9m), adjusted operating profit £206.2m (range £197.0m–£208.0m).

• Management remains mindful of macroeconomic and search environment changes.