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Company News

Publisher Torstar revenue drops 10 pct on lower ad sales

Nov 1 (Reuters) - Toronto Star newspaper publisher Torstar Corp on Wednesday posted a 10 percent drop in quarterly revenue as its print business attracted fewer advertisers.

The company posted a net loss of C$6.6 million ($5.13 million), or 8 Canadian cents per share, in the third quarter ended Sept 30 from a profit of C$1.4 million, or 2 Canadian cents per share, a year earlier.

Revenue fell to C$145.91 million from C$162.1 million, largely. ($1 = 1.2873 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Anil D’Silva)

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