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Corus Entertainment quarterly net income 2013-2021

Corus Entertainment reported a net income of about 77 million Canadian dollars in its first fiscal quarter of 2021, marking a small decrease from the 78 million in the corresponding fiscal period of the previous year. It is also a significant recovery from the third fiscal period of the year, where the impacts of the COVID-19 pandemic were felt by the company.

Quarterly net income of Corus Entertainment from fiscal 1st quarter 2013 to 1st quarter 2021

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Source

Release date

January 2021

Region

Canada

Survey time period

September 2012 to November 30, 2020

Supplementary notes

Corus Entertainment operates on fiscal years that begins September 1 and ends August 31.
For fiscal 2013, as a result of retroactive application of IFRS 11 - Joint Arrangements, the Company is no longer permitted to proportionately consolidate its 50% equity interest in the operations of TELETOON up to August 31, 2013 (i.e. prior to the business combination on September 1, 2013) and is required to account for its investment using the equity method of accounting. As a consequence, the Television revenues and segment profit for the year ended August 31, 2013 were reduced by $52.0 million and $19.0 million, respectively, and Corus’ share of TELETOON’s net income of $12.1 million was reported as Other expense (income) in the Consolidated Statements of Income and Comprehensive Income. The restatement did not change reported net income for fiscal 2013.
Figures have bee rounded.

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