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Corus Entertainment reports $19.9M Q4 profit, revenue up 13% from year ago

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TORONTO — Corus Entertainment Inc. reported a fourth-quarter profit of $19.9 million, down from $30.3 million in the same quarter last year, as its revenue grew more than 10 per cent.

The television and radio broadcaster says the profit amounted to 10 cents per diluted share for the quarter ended Aug. 31, down from a profit of 15 cents per diluted share a year ago.

Revenue for the quarter totalled $361.3 million, up from $318.4 million in the same quarter last year for the company behind Global Television, W Network, HGTV Canada, Food Network Canada and other specialty television services, radio stations and conventional television stations.

Television revenue rose to $335.8 million compared with $299.1 million a year ago, while radio revenue climbed to $25.4 million from $19.3 million.

On an adjusted basis, Corus says it earned 10 cents per share for the quarter, down from an adjusted profit of 16 cents per share a year ago.

Analysts on average had expected an adjusted profit of nine cents per share, according to to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Oct. 22, 2021.

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

The Canadian Press