HALIFAX — Shares in DHX Media Ltd. plunged more than 20 per cent after the entertainment company provided a weaker-than-expected preview of its fourth-quarter results.
The Halifax-based company’s stock was down 22 per cent or 38 cents at $1.31 after about half an hour of trading.
The drop came as it said it expected its fourth-quarter revenue to total $99 million and anticipated losses for the fourth quarter and full year when it reports its results on Sept. 25.
DHX says it expects the fourth-quarter net loss will be in a range of $18 million to $20 million, and a full-year net loss of between $6 million and $8 million.
Analysts had estimated a $6.4-million profit for the quarter and a $14 million profit for the year, according to Thomson Reuters Eikon.
They also estimated it would have $126.8 million of revenue for the three months ended June 30.
Companies in this story: (TSX:DHX)
The Canadian Press