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Media house Schibsted Q2 beat forecast, hits out at Google and Facebook

Reuters

(Adds comments on Google and Facebook)

July 18 (Reuters) - Schibsted ASA:

* Q2 EBITDA ex investment phase NOK 880 million ($108.38 million)(Reuters poll NOK 834 million)

* Q2 EBITDA NOK 694 million (Reuters poll NOK 645 million)

* Q2 revenues NOK 4.3 billion (Reuters poll NOK 4.29 billion)

* "Within Online classifieds, we continue to see good revenue growth combined with operational leverage," CEO Rolv Erik Ryssdal said in a statement

* "First impression is positive," says Danske Bank Markets analyst Martin Stenshall, who has a "buy" rating on the stock. "Management guides investments further planned to be reduced in H2 2017 and in 2018."

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* Outlook: Schibsted keeps guidance of 15-20 percent revenue growth in online classifieds, its top division, for mid to long term

* In online classifieds, Schibsted says full-year investments are expected to go down versus 2016, and the investments are expected to go down sequentially quarter by quarter in 2017

* On investments in Technology and Online Product Development, Schibsted says: "In 2018, we will be able to take advantage of efficiency effects and reduce duplication of efforts within product and technology"

* Schibsted CEO: "We think it is unfair that these giants, Google and Facebook, take out big money from local advertising market without paying tax"

* CEO estimates Facebook's 2016 advertising revenues in Norway were at 1.4 billion crowns, Google's at 3.3 billion and Schibsted's at 2.0 billion, of which 1.1 billion is digital

* UK and Australia have already taken actions on the issue, France lost a case against Google last week

* CEO says it is time for other governments to act

* CEO also says it s looking into if it is impacted by EU's antitrust ruling against Google for giving priority to itss own services

* CEO says its online service "Prisjakt" ("price hunt") is a service that could be a competitor to GoogleSource text for Eikon: Further company coverage: ($1 = 8.1195 Norwegian crowns) (Reporting by Ole Petter Skonnord, editing by Gwladys Fouche)