Corus Leisure 2Q Revenue Slides Amid Declining Promoting Income – thqaftqlm

Corus Leisure 2Q Revenue Slides Amid Declining Promoting Income

Printed: April 13, 2023 at 6:22 a.m. ET

By Adriano Marchese

Corus Leisure Inc. on Thursday reported a decline in revenue and income in its fiscal second quarter as a continued decline in advert revenues weigh on efficiency.

For the three months ended Feb. 28, the Canadian mass-media firm reported a lack of 15.5 million Canadian {dollars} ($11.5 million), or C$0.08 a share, in contrast…

By Adriano Marchese

Corus Leisure Inc. on Thursday reported a decline in revenue and income in its fiscal second quarter as a continued decline in advert revenues weigh on efficiency.

For the three months ended Feb. 28, the Canadian mass-media firm reported a lack of 15.5 million Canadian {dollars} ($11.5 million), or C$0.08 a share, in contrast with a revenue of C$16.2 million, or C$0.08 a 12 months in the past.

Income fell 5% to C$343.9 million, just about in step with analyst expectations of a fall to C$344.5 million.

Corus cited a depressed world promoting market, with commercial income falling 8% to C$169.1 million a 12 months in the past, whereas its tv enterprise noticed income decline to C$321.5 million from C$339.7 million.

In the meantime, its “distribution, manufacturing and different” enterprise, one among its smallest, noticed a rise of 28% to income, rising to C$28.4 million.

“Our second-quarter outcomes replicate the influence of present world promoting market situations on promoting income, partially offset by vital development in our owned content material enterprise,” mentioned President and Chief Govt Officer Doug Murphy.

Write to Adriano Marchese at adriano.marchese@wsj.com

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