Money: Corus Q1 profit down, revenue edges higher - PressFrom - Canada
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MoneyCorus Q1 profit down, revenue edges higher

20:05  11 january  2019
20:05  11 january  2019 Source:   msn.com

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Yahoo's revenue and profit slid significantly in the first quarter, but the company's performance was in line with Wall Street's expectations and Corus Entertainment Inc. reported its first -quarter profit fell compared with a year ago as its revenue edged higher , boosted by gains in television advertising.

23:41 30 january 2019 Source: reuters.com. Corus Q 1 profit down , revenue edges higher . Microsoft just released financial results for the past quarter , the first quarter of its fiscal year While the Xbox and Surface units are more interesting to us here at Engadget, Microsoft continues to rake in

Corus Q1 profit down, revenue edges higher© Provided by thecanadianpress.com The Corus logo at Corus Quay in Toronto is shown on Friday, June 22, 2018. Corus Entertainment Inc. reported its first-quarter profit fell compared with a year ago as its revenue edged higher, boosted by gains in television advertising. THE CANADIAN PRESS/ Tijana Martin

TORONTO - Corus Entertainment Inc.'s earnings came in below estimates as its first-quarter profit fell from a year ago due to an accounting change related to its TV brand assets, but revenue edged higher due to gains in television advertising.

The television, radio and production company says its profit attributable to shareholders fell to $60.4 million or 28 cents per diluted share for the quarter ended Nov. 30 as amortization charges rose due to the accounting change. The result compared with a profit of $77.7 million or 38 cents per diluted share a year ago.

GM predicts profit surge after unpopular layoffs, plant closings

GM predicts profit surge after unpopular layoffs, plant closings General Motors said last year's earnings would be higher than expected and this year's may rise even further as it focuses on building more lucrative vehicles, a strategy that infuriated lawmakers because of the U.S. plant closings and layoffs it entailed. Earnings in 2019 will be $6.50 to $7 per share, the Detroit based company said Friday, higher than most analysts' estimates. The carmaker reiterated plans to deploy its first commercial fleet of self-driving cars and said retail sales in China would be comparable to 2018 despite a slowdown in the country's economy exacerbated by a trade fight with Washington.

Revenue was down 0.4% from a year earlier to .15 billion, a minor slide but. Altogether, IBM 's biggest business segment, Technology Services and Cloud Just a year ago, IBM triumphantly returned to growth following nearly six years of shrinking revenue . Corus Q 1 profit down , revenue edges higher .

Scotiabank profit misses estimates on higher expenses: GM predicts profit surge after unpopular layoffs, plant The bank has been focusing its international operations on the Pacific Alliance trading bloc of Peru, Mexico, Chile and Columbia, which now accounts for around a quarter of its revenue .

On an adjusted basis, the company said it earned $70.1 million or 33 cents per share, down from $78.9 million or 38 cents per share in the same quarter last year.

Analysts had estimated 40 cents per share of adjusted earnings, according to Thomson Reuters Eikon.

Revenue totalled $467.5 million, up from $457.4 million and above the estimate of $451.2 million, as television revenue increased to $426.2 million compared with $415.5 million a year ago.

Radio revenue amounted to $41.3 million, up from $41.9 million.

Corus owns specialty and conventional television stations, including the Global Television network as well as radio stations, a children's book publishing business and other services.

Companies in this story: (TSX:CJR.B)

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