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Corus Entertainment reports Q1 profit and revenue down from year ago

Corus profit, revenue down

Corus Entertainment Inc. reported its first-quarter profit fell compared with a year ago as its revenue dropped 12 per cent.

The television and radio broadcaster says it earned a profit attributable to shareholders of $11.9 million or six cents per diluted share for the quarter ended Nov. 30.

The results compared with a profit of $32.7 million or 16 cents per diluted share in the same quarter last year.

Revenue for the quarter totalled $327.2 million, down from $369.9 million a year earlier.

Corus said the overall decrease came as television revenue fell to $303.6 million compared with $342.4 million in the same quarter last year. Radio revenue totalled $23.5 million, down from $27.5 million.

On an adjusted basis, Corus says it earned 14 cents per share in its latest quarter compared with an adjusted profit of 20 cents per share in the same quarter last year.

 

 



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