Corus reports revenue up 10% from year ago

Corus Entertainment Inc. 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.