Corus Entertainment reports $40.7M Q3 profit, revenue up 15 per cent from year ago

0

TORONTO — Corus Entertainment Inc. reported a profit of $40.7 million in its latest quarter as its revenue rose 15 per cent compared with a year ago at the start of the pandemic.

The television and radio broadcaster says the profit amounted to 19 cents per share for the quarter ended May 31.

The result compared with a loss of $752.3 million or $3.61 per diluted share a year ago when it recorded $786.8 million in broadcast licence and goodwill impairment charges.

Revenue in what was the company’s third quarter totalled $403 million, up from from $349 million.

The increase in revenue came as its television revenue rose to $379.8 million, compared with $331.3 million a year ago, helped by an rise in advertising revenue.

Radio revenue climbed to $23.2 million, up from from $17.6 million in the same quarter last year.

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