Corus Entertainment Inc. reported its first-quarter profit fell compared with a year ago as its revenue edged higher, boosted by gains in television advertising. “So they’re re-allocating those dollars into the reach and frequency that TV provides,” Murphy said. The television, radio and production company’s overall revenue totalled $467.5 million, up from $457.4 million and above the estimate of $451.2 million. Despite the higher Q1 revenue, Corus profit was down — partly because of its accounting for a revaluing of a TV brand that will be retired and replaced this year. Analysts had estimated 40 cents per share of adjusted earnings, according to Thomson Reuters Eikon.

Source: thestar January 11, 2019 14:26 UTC