The Canadian media firm reported a non-GAAP EPS loss of C$0.15 and a 16.3% revenue decline to C$249.36M.
Corus Entertainment reported a third-quarter non-GAAP loss of C$0.15 per share, missing expectations as revenue fell 16.3% year-over-year to C$249.36M. The decline reflects broader challenges in the media sector, including lower advertising demand and shifting consumer habits.
Consolidated segment profit dropped 53% for the quarter to C$30.1 million, with margins compressing to 12% from 22% a year earlier. Year-to-date segment profit fell 29%, while margins narrowed to 16% from 21% in the prior period.
Free cash flow for the quarter was C$6.2 million, but the company posted a negative C$46.1 million for the year-to-date, signaling ongoing cash flow pressures.