- Corus Entertainment (TSX:CJR.B) reported a significant decline in its Q1 2025 profit compared to the same period last year, as the company’s revenue fell by 12 per cent
- The television and radio broadcaster announced a profit attributable to shareholders of C$11.9 million, a notable decrease from the C$32.7 million, or 16 cents per diluted share, reported in the same quarter last year
- The continues the bleak story from the media broadcaster where it recorded a net loss attributable to shareholders of C$25.7 million in Q4 2024
- Corus stock (TSX:CJR.B) last traded at $0.105
Corus Entertainment (TSX:CJR.B) reported a significant decline in its Q1 2025 profit compared to the same period last year, as the company’s revenue fell by 12 per cent. The television and radio broadcaster announced a profit attributable to shareholders of C$11.9 million, or six cents per diluted share, for the quarter ending November 30. This is a notable decrease from the C$32.7 million, or 16 cents per diluted share, reported in the same quarter last year.
The company’s revenue for the quarter totalled C$327.2 million, down from C$369.9 million a year earlier. The overall decrease in revenue was primarily driven by a drop in television revenue, which fell to C$303.6 million from C$342.4 million in the same quarter last year. Radio revenue also saw a decline, totalling C$23.5 million compared to C$27.5 million previously.
On an adjusted basis, Corus reported earnings of 14 cents per share in the latest quarter, down from an adjusted profit of 20 cents per share in the same period last year. The company attributed the decline in profit and revenue to challenging market conditions and a decrease in advertising spending.
“Our results were in line with the first quarter outlook we provided, reflecting the return to a regular fall programming schedule and lower advertising demand,” John Gossling, Corus’ co-chief executive officer and chief financial officer said in rundown on the quarterly results. “We are encouraged by the emerging strength of our product and audiences but given industry and economic conditions, our commitment to pursue further cost reductions remains an integral part of our more comprehensive plan to right-size our business, increase our focus on high-margin assets with growth potential and take necessary steps to strengthen our balance sheet.”
The continues the bleak story from the media broadcaster where it recorded a net loss attributable to shareholders of C$25.7 million in Q4 2024.
Corus stock (TSX:CJR.B) last traded at $0.105.
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(Top photo of the Corus Quay broadcast and content facility in Toronto: Corus Entertainment)