April 14, 2011 / 11:43 AM / in 7 years

UPDATE 1-Corus Entertainment Q2 profit soars

April 14 (Reuters) - Canadian media company Corus Entertainment Inc (CJRb.TO) said its second quarter profit more than doubled, helped by a boost in its advertising revenue and subscriber fee.

For the quarter ended Feb. 28, net income was C$31.6 million, or 38 Canadian cents a share, up from C$14.6 million, or 18 Canadian cents a share, a year ago.

Consolidated revenue grew 8 percent to C$191.1 million.

Analysts, on average, were expecting earnings of 33 Canadian cents a share, on revenue of C$190.6 million, according to Thomson Reuters I/B/E/S.

Advertising revenue rose 6.2 percent to C$82.2 million, while subscriber fee was up 5.8 percent to C$75.6 million.

Corus’s Class B shares closed at C$21.05 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Prem Udayabhanu)

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