Technology: Corus Entertainment reports $22.9M Q4 profit down from $33.7M a year ago - - PressFrom - Canada
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Technology Corus Entertainment reports $22.9M Q4 profit down from $33.7M a year ago

18:40  18 october  2019
18:40  18 october  2019 Source:   msn.com

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Corus Entertainment Inc reported a 16.4 percent rise in The company's net income rose to C$ 33 . 7 million (.8 million), or 16 Canadian cents, in the fourth quarter ended Aug. 31 from C.9 million, or 14 Canadian cents, a year earlier. Total revenue fell to C9.1 million from C1.2 million.

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TORONTO — Corus Entertainment Inc. says it earned $22.9 million in its latest quarter, down from nearly $33.7 million in the same quarter a year ago, as its revenue edged lower.

The parent company of Global Television, specialty TV channels and radio stations says the profit amounted to 11 cents per diluted share for the quarter ended Aug. 31, down from 16 cents in the same quarter last year.

Revenue in what was the company's fourth quarter totalled nearly $377.5 million compared with nearly $379.1 million a year ago.

Television revenue totalled nearly $343.8 million in the quarter, down from $344.6 million, while radio revenue slipped to $33.7 million from $34.4 million.

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Canadian media company Corus Entertainment Inc on Friday reported a 22 .2 percent fall in quarterly profit , as costs related to acquisitions and restructuring shot up. 30, from C.7 million, or 38 Canadian cents per share, a year ago . Total revenue rose to C7.5 million from C7.4 million.

Corus Entertainment Inc beat analysts' estimates for quarterly profit on Friday, benefiting Canadian media company Corus Entertainment Inc on Friday reported a 22 .2 percent fall in Corus : Fiscal 4Q Earnings Snapshot. On a per-share basis, the Toronto-based company said it had profit of 12 cents.

On an adjusted basis, Corus says it earned $27.9 million or 13 cents per share for the quarter, down from an adjusted profit of $39.5 million or 19 cents per share in the same quarter last year.

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Analysts on average had expected a profit of 12 cents per share for the quarter, according to financial markets data firm Refinitiv.

For its full year, Corus earned nearly $156.1 million or 74 cents per diluted share on nearly $1.69 billion in revenue, compared with a loss of $784.5 million or $3.77 per diluted share on nearly $1.65 billion in revenue a year earlier.

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Canadian media company Corus Entertainment Inc on Friday reported a 22 .2 percent fall in quarterly profit , as costs related to acquisitions and restructuring shot up. 30, from C.7 million, or 38 Canadian cents per share, a year ago . Total revenue rose to C7.5 million from C7.4 million.

Canada's Corus Entertainment Inc on Wednesday reported a quarterly loss, compared with a year - ago profit , hit by a C.01 billion charge Net loss attributable to Corus was C6 million, or C.49 per share, in the third quarter ended May 31, compared with a profit of C.7 million, or 33

On an adjusted basis, the company says it earned $181.0 million or 85 cents per share for its most recent financial year, compared with an adjusted profit of $238.4 million or $1.14 per share a year ago.

This report by The Canadian Press was first published Oct. 18, 2019.

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

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