Corus Entertainment reports Q4 profit up from year ago, revenue down

Corus Entertainment reports Q4 profit up from year ago, revenue down
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TORONTO — Television and radio broadcaster Corus Entertainment Inc. reported its fourth-quarter profit rose compared with a year ago, even as its revenue fell.

The company, which includes Global Television, says it earned $30.3 million in net income attributable to shareholders or 15 cents per diluted share for the quarter ended Aug. 31.

That compared with a profit of $22.9 million or 11 cents per diluted share a year ago.

Revenue totalled $318.4 million, down from $377.5 million.

On an adjusted basis, Corus says it earned $33.2 million million or 16 cents per share in the quarter, up from an adjusted profit of $27.9 million or 13 cents per share a year ago.

For its full financial year, Corus says it had a loss attributable to shareholders of $625.4 million or $2.98 per diluted share on $1.51 billion in revenue. That compared with a profit of $156.1 million or 74 cents per diluted share on $1.69 billion in revenue in the same period a year earlier.

This report by The Canadian Press was first published Oct. 22, 2020.

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

The Canadian Press

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