British broadcaster ITV posted a 17 per cent fall in 2007 earnings due to digital investment and a row over premium-rate phone-ins but said advertising revenues showed signs of improvement in early 2008.
Its shares opened up 2.6 percent at 68.2 pence.
ITV said net advertising revenues (NAR) for its family of channels was expected to be up almost 2 per cent in the first quarter of 2008, in a total TV market down 0.7 per cent.
The company, home to the 'Coronation Street' soap opera and 'The X Factor' talent show, said NAR for 2007 had held steady at £1.49 billion ($2.96 billion), with growth on the digital channels offsetting a 4 per cent NAR drop on the main ITV1 channel.
Total viewing of its channels in 2007 increased year-on-year for the first time since the early 1990s, and viewing figures were up so far in 2008, with a market share of 23 per cent, while its share of commercial TV was held at 41.5 per cent.
"We are heartened by the positive response of advertisers to the improved on-screen performance and our investment in channels and online," executive chairman Michael Grade said in a statement.
"Having stabilised our advertising revenues last year, we've been able to increase ITV television advertising revenues nearly 2 per cent year on year for the first quarter of 2008, running well ahead of the total market."
The group, Britain's largest commercial broadcaster, posted 2007 revenue of £2.08 billion, down from £2.18 billion a year earlier, due to a fall in premium-rate phone services and a drop in global content revenues.
Underlying earnings before interest, tax and amortisation (EBITA) for the year were £311 million pounds, down from £375 million, also hit by the fall in premium-rate services and investment in digital channels.