Corus Entertainment Inc. CJR-B-T reported its first-quarter profit edged lower compared with a year ago as its revenue grew 10 per cent.
The television and radio broadcaster says it earned net income attributable to shareholders of nearly $76.2-million or 36 cents per diluted share for the quarter ended Nov. 30.
The result compared with a profit of nearly $76.7-million or 37 cents per diluted share in the same quarter a year ago.
Revenue totalled nearly $463.9-million, up from almost $420.4-million in the same quarter a year earlier for the company behind Global Television, W Network, HGTV Canada, Food Network Canada and other specialty television services, radio stations and conventional television stations.
Corus chief executive Doug Murphy says television revenue in the quarter surpassed pre-pandemic levels, helped by the strength of Global TV’s fall schedule and robust advertising demand.
Television revenue grew to $434.7-million, up from $392.1-million a year ago, while radio revenue came in at $29.1-million, up from nearly $28.3-million.
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