TV, radio lift Astral quarter

Co. sees 43% jump in net earnings to $14.4 mil

TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.)

For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million.

Of that, the company’s TV arm kicked in $66 million, up 12% from the same quarter a year ago, and the radio division contributed $18 million, more than double the $7 million posted in last year’s Q3.

“We have again demonstrated a very solid financial performance overall this quarter with our television and radio groups leading the way,” prexy-CEO Ian Greenberg said in a statement. “With continued strong growth in the number of pay TV subscribers of 13.7% year over year and advertising revenue growth of 38% in the third quarter, the television group continues its solid performance.”

The company’s stock closed the day up more than 5% by C$1.16 (83¢) to $17.07.

Astral Media has interests in specialty, pay and pay-per-view TV; radio; and outdoor advertising.

More TV

  • Paul Bettany2017 Lincoln Center Corporate Fund

    'The Crown': Paul Bettany in Talks to Play Prince Philip

    TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.) For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million. Of that, […]

  • Rihanna France Concert Canceled

    Rihanna to Perform at Grammys With DJ Khaled and Bryson Tiller

    TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.) For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million. Of that, […]

  • Lori Mccreary and Gary Lucchesi PGA

    How Harvey Weinstein Drove the PGA to Combat Sexual Harassment on Set

    TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.) For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million. Of that, […]

  • ABC Logo

    ABC Orders Tim Doyle Comedy Pilot

    TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.) For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million. Of that, […]

  • TV Review: ‘Planet Earth: Blue Planet

    TV Review: ‘Planet Earth: Blue Planet II’ on BBC America

    TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.) For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million. Of that, […]

  • Jeff Zucker

    Jeff Zucker Has 'No Interest' In ESPN Job

    TORONTO — A strong showing from Astral Media’s TV and radio divisions boosted the company’s third-quarter earnings by a whopping 43% to C$20.2 million ($14.4 million.) For the quarter ended May 31, Montreal-based Astral posted a 43% jump in net earnings to $14.4 million on revs that were up 21% to $90.4 million. Of that, […]

More From Our Brands

Access exclusive content