January 15th, 2021

Corus Entertainment reports $76.7M Q1 profit, revenue down 10% from year ago

By The Canadian Press on January 12, 2021.

TORONTO – Corus Entertainment Inc. reported its first-quarter profit edged down from a year ago while its revenue declined 10 per cent.

The media company says it earned $76.7 million in net income attributable to shareholders or 37 cents per diluted share for the quarter ended Nov. 30.

The result compared with a profit of $78.1 million or 37 cents per diluted share in the same quarter a year earlier.

Revenue for the three-month period totalled $420.4 million, down from $467.9 million.

On an adjusted basis, Corus says it earned 38 cents per share, the same as the same quarter last year.

Corus owns 33 specialty television services, 39 radio stations and 15 conventional television stations as well as other assets.

This report by The Canadian Press was first published Jan. 12, 2021.

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

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