Corus Posts Revenue Gains


Corus Entertainment’s Q3 revenues rose by 28 percent to C$461.6 million ($350.2 million), delivering a net profit of C$66.7 million ($50.6 million), as compared with a loss in the third quarter of last year.

“Our Q3 results clearly demonstrate progress on our goal of returning Corus to growth,” said Doug Murphy, the president and CEO of Corus. “We were pleased to deliver solid revenue gains, double-digit segment profit growth and impressive margin expansion in the quarter. In addition, we reached a key leverage ratio milestone earlier than anticipated. As we head into a new broadcast year, we expect our powerful brands and content will position us for continued audience share gains, supported by our exciting fall schedule. This coupled with our improved cost structure and the unwavering commitment of our talented team gives us confidence that we remain on the right track to achieving our long-term goals.”

Television revenues were up 31 percent to C$422.2 million, with a segment profit of C$171.3 million. The period saw TV ad revenues rise by 33 percent and subscriber revenues rise by 26 percent.