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Corus Entertainment reports Q3 profit down from year ago, revenue up eight per cent

Profits down at Corus

Corus Entertainment Inc. reported its third-quarter profit fell compared with a year ago as its revenue grew eight per cent.

The television and radio broadcaster says its net income attributable to shareholders totalled $29.6 million or 14 cents per diluted share for the quarter ended May 31, down from $40.7 million or 19 cents per diluted share a year earlier.

Revenue for the three-month period totalled $433.5 million, up from $402.3 million.

The increase came as revenue at the company's television business rose to $404.1 million compared with $379.8 million a year ago.

Radio revenue at Corus totalled $29.3 million for the quarter, up from $23.2 million in the same quarter last year.

Corus CEO Doug Murphy says its portfolio of businesses is producing growth on all fronts, delivering strong consolidated revenue gains for the fifth consecutive quarter.



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