Corus' (TSX:CJR.B) revenue up 10% in Q1. An entertainment stock to buy?

Follow us on Google News:
 Corus' (TSX:CJR.B) revenue up 10% in Q1. An entertainment stock to buy?
Image source: © 2022 Kalkine Media®    

Highlights 

  • Corus Entertainment Inc (TSX:CJR.B) drew investors’ interest on Wednesday, January 13, as it announced its latest financials.
  • The entertainment company recorded a revenue surge of 10 per cent year-over-year (YoY) in the first quarter of fiscal 2022.
  • Corus Entertainment stock has returned a one-month gain of roughly eight per cent.

Corus Entertainment Inc (TSX:CJR.B) drew investors’ interest on Wednesday, January 13, as it announced its latest financials.

One of the leading media and content companies in Canada, Corus Entertainment has been offering multimedia products and engaging audiences since 1999.

The Toronto-headquartered company provides a wide array of media and entertainment services such as specialty television, radio stations, digital and streaming assets etc.

Also read: Is Cielo Waste (TSXV:CMC) a cheap stock to buy? 

Let us have a sneak peek at the financial and stock performance of Corus Entertainment.

 

Corus Entertainment Inc (TSX:CJR.B) Q1 FY2022 results

The entertainment company recorded a revenue of C$ 463.8 million in the first quarter of fiscal 2022, up by 10 per cent from that of C$ 420.3 million in Q1 FY2021.

The C$ 1-billion market cap company reported a net income of C$ 76.1 million in the latest quarter, as compared to C$ 76.6 million in the same period a year ago.

Corus Entertainment saw its television revenue soar by 11 per cent year-over-year (YoY) in Q1 FY2022 to C$ 434.7 million. Its radio revenue also jumped by three per cent from C$ 28.2 million in Q1 FY2021 to C$ 29.1 million in the latest quarter.

The Canadian media and entertainer, which presently has a return on equity (ROE) of 17.54 per cent, generated a free cash flow of C$ 79.9 million in Q1 FY2022, indicating a YoY rise of 28 per cent.

Corus Entertainment’s (TSX: CJR.B) financial results

 Image source: © 2022 Kalkine Media®    

Corus Entertainment Inc’s stock performance

Stocks of Corus Entertainment closed at C$ 4.97 apiece on Tuesday, January 12. The media stock has expanded by over five per cent in the past one week and returned a gain of roughly eight per cent in the last one month.

Also read: Are these unique ocean energy stocks under $6 too cheap to ignore?

Bottomline

Although the government has accelerated the vaccination programs, it is still uncertain if the booster dose can slow down the spread of the new COVID-19 variant of omicron.

Investors should consider this disruption as it can once again impair the performance of media and entertainment companies.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK