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Corus Entertainment profit falls in Q1

Corus Entertainment Inc.

CJREF, +3.98%

said profit fell 21% in the first quarter though revenue increased slightly, driven primarily by television advertising revenue.

For the period ended Nov. 30, the Canadian mass media and broadcasting company said profit was $66.8 million Canadian dollars, or C$0.28 a share, compared with C$85 million, or C$0.38 a share, a year earlier. Analysts polled by Refinitiv were expecting the company to earn C$0.30 a share.

On an adjusted basis, the company made C$0.33 a share.

Revenue increased 2.2% to C$467.5 million from the year prior, above the C$451.8 million estimated from analysts.

Write to Kimberly Chin at kimberly.chin@wsj.com

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Article source: https://www.marketwatch.com/story/corus-entertainment-profit-falls-in-q1-2019-01-11

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