Operating income showed even more significant improvement, at 22.6 m USD for Q2 compared with a 2013 loss of (4.6) m USD, and 8.3 m USD for the first six months of 2014 compared with a loss of (39.5) m USD for the same period in 2013. Net loss was also reduced, at (101.5) m USD for the first six months of 2014 compared with a net loss of (150.1) m USD in 2013.

The improved numbers come less than one year after CME announced the appointment of a new management team. Michael Del Nin, Co-Chief Executive Officer, said in a statement: "Our results demonstrate the continuing significant improvement in the company's financial position, and provide further evidence that our turnaround is well underway."

His Co-Chief Executive Officer Christoph Mainusch said: "We reduced content costs while maintaining our audience share leadership.”

The Czech Republic had the biggest rebound, with Q2 2014 revenues at 59.2 m USD compared to 42.7 m USD for Q2 2013. Romania was CME’s best performing territory with Q2 revenues of 62.9 m USD for Q2 2014 compared to 52 m USD in Q2 2013. Slovakia, Croatia and Slovenia all had improvement in Q2. Bulgaria had a decline in Q2, but overall growth for the first six months of 2014.

CME shares rose on NASDAQ by 9% at the start of trading, leveling off at a 7% bump by the end of the day, but still trading at the relatively low price of 2.70 USD at the end of the NYC trading day.

CME operates 33 channels in six Central European countries.