Future PLC (LSE:FUTR) shares rose after the website and magazine publisher said trading for the past quarter was in line with expectations, with the company on track to meet full-year guidance.
US advertising returned to growth, up 5% year-on-year, during the third quarter ended 30 June 2025, while UK advertising declined 8%, showing signs of improvement.
There was a decline in e-commerce affiliate revenue, which was expected, and magazine revenues remained stable, improving on prior years' rate of decline.
Price comparison arm Go.Compare saw a more moderate performance, following a strong third quarter last year due to the car insurance switching market.
The company announced that a new £55 million share buyback will begin shortly, following the conclusion of its current buyback programme.
CEO Kevin Li Ying said: "We are pleased with our overall performance in the third quarter, which keeps us on track to deliver on expectations for the full year."
Peel Hunt analysts agreed that the improvement following the dip in March has continued, with US advertising returning growth and UK advertising's decline moderated. "Overall, sessions were weaker in 3Q, but page views per session rose."
Go.Compare had "a tough comparable" this quarter, the analysts said, while B2B improved, with a soft enterprise tech performance offsetting better performance in other verticals.
"Even though advertising trends have returned to growth since March, which is encouraging, the key concern of weakness in traffic remains," Peel said.
"This plays into investor concerns over the impact of AI search for the future, which we believe is likely to continue to weigh on the shares in the near term."