News Formal

Corus Entertainment says advertising revenue declines as company reports Q4 earnings

  • 📰 SooToday
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 85%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

TORONTO — Corus Entertainment Inc. reported a net income attributable to shareholders of $50.4 million in its latest quarter, a turnaround from its net loss of $367.1 million in the fourth quarter of last year.

The television and radio broadcaster says its profits amounted to 25 cents per diluted share for the quarter ended Aug. 31, compared with a loss of $1.82 cents per diluted share in the same quarter last year.

Revenue totalled $338.8 million for the company's fourth quarter, down slightly from $339.6 million a year earlier. But on an adjusted basis, Corus says it recorded a loss of four cents per share for the quarter, compared with a loss of eight cents per share in the same quarter last year. The company says revenues for the year decreased as a result of declines in almost all advertising categories as well as subscriber revenues, which was partially offset by an increase in distribution, production and other revenue.

The company says it is awaiting a decision from the CRTC in response to its application earlier this month asking the regulator to ease some Canadian content spending requirements.The Canadian Press

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Most actively traded companies on the Toronto Stock ExchangeTORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (18,947.85, down 38.64 points): Enbridge...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Europe Inc warns business is tough on home turfSome of Europe's top companies, including Volkswagen and Unilever warned on Thursday that business in the region is increasingly tough, underscoring concerns...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Europe Inc warns business is tough on home turfExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Europe Inc warns business is tough on home turfSome of Europe's top companies, including Volkswagen and Unilever warned on Thursday that business in the region is increasingly tough, underscoring concerns...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Europe Inc warns business is tough on home turfMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »