Corus Q3 Financials Report 'Softness' In Radio Segment

Q3 Results

CORUS ENTERTAINMENT has released its third quarter financial results today.

"CORUS delivered a third consecutive quarter of consolidated revenue growth, driven primarily by a double-digit increase in Television advertising, partially offset by lower subscriber revenues and softness in our radio segment," said Pres./CEO DOUG MURPHY. "Significant innovations such as the debut of STACKTV on AMAZON PRIME Video Channels and expansion of CORUS' social and digital content offerings, combined with our robust new slate of owned content and a strong programming line-up demonstrate our commitment to optimize our core business and build for the future. Importantly, these strong Q3 results have enabled us to achieve our leverage target one quarter ahead of our goal, once again improving our financial flexibility."

The Highlights

• Consolidated revenues increased 4% for the quarter and 3% year-to-date, driven by a 10% increase in Television advertising revenues for the quarter and 8% for the year-to-date
• Consolidated segment profit was consistent with the quarter and up 3% year-to-date
• Consolidated segment profit margin of 37% for the quarter and 36% year-to-date
• Net income attributable to shareholders of $66.4 million ($0.31 per share basic) for the quarter and $133.1 million ($0.63 per share basic) for the year-to-date
• Free cash flow of $90.1 million for the quarter and $216.4 million for the year-to-date

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