TORONTO — Corus Entertainment Inc. reported its second-quarter profit fell compared with a year ago as its revenue edged higher.
Corus CEO Doug Murphy says the results reflect strong subscriber revenue gains and a recovery in its radio business, offset primarily by lower timing-related content licensing revenues.
The television and radio broadcaster says its net income attributable to shareholders totalled $16.2 million or eight cents per diluted share for the quarter ended Feb. 28, down from $35.3 million or 17 cents per diluted share a year earlier.
Revenue for the three-month period totalled $361.7 million, up from $358.9 million.
On Thursday, Corus announced what it called its largest U.S. distribution deal ever with streaming service Hulu.
The multi-year agreement includes over 400 episodes of lifestyle, renovation, unscripted and crime programming.
This report by The Canadian Press was first published April 8, 2022.
Companies in this story: (TSX:CJR.B)
The Canadian Press