Corus Leisure 2Q Rev C$343.9M >CJR.B.T – thqaftqlm

Corus Leisure 2Q Rev C$343.9M >CJR.B.T

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

Corrections & Amplifications

This headline was corrected at 06:13 a.m. ET. The origninal misstated the determine as second quarter incomes per share.

By Adriano Marchese

Corus…

Corrections & Amplifications

This headline was corrected at 06:13 a.m. ET. The origninal misstated the determine as second quarter incomes per share.

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 yr 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 international promoting market, with commercial income falling 8% to C$169.1 million a yr 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 in every of its smallest, noticed a rise of 28% to income, rising to C$28.4 million.

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

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

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