Reach (RCH) Q3 2026 TU earnings summary

Executive summary

• On track to deliver in line with market expectations for FY26, while maintaining a cautious outlook for digital revenue.

• Strategic priorities focus on trusted brands, monetising video content and diversifying revenue away from traditional on-platform advertising.

Financial highlights

• Group revenue declined 14.1% YoY in Q3 and 10.8% YoY over 9M.

• Digital revenue fell 20.3% YoY in Q3 and 14.5% over 9M; print revenue declined 12.0% and 9.5%, respectively.

• Circulation revenue fell 10.9% YoY in Q3 and 8.1% over 9M; advertising revenue declined 7.8% and 10.0%, respectively.

Outlook and guidance

• FY26 outlook remains cautious for digital revenue, with full-year performance expected in line with market expectations.

• Market consensus for FY26 adjusted operating profit is £95.1m, based on the average of analyst-published forecasts.