Postmedia financial results for quarter ending Nov. 30.
Highlights
– Net loss in the quarter ended November 30, 2024 was $24.5 million, as compared to a net loss of $10.6 million in the same period in the prior year. The increase in net loss was primarily the result of an increase in restructuring expenses, interest expense…
– Revenue for the quarter was $110.3 million as compared to $104.6 million in the same period in the prior year, representing an increase of $5.7 million (5.4%). The revenue increase was primarily due to increases in advertising revenue of $5.6 million (11.1%), circulation revenue of $3.3 million (10.3%) and parcel revenue of $0.4 million (2.8%)
– Excluding the impact of the Saltwire asset acquisition, advertising revenue for the quarter increased by 1.4%.
– Total operating expenses excluding depreciation, amortization and restructuring increased $6.1 million, or 6.1% … relative to the same period in the prior year. The increase relates to increases in compensation, distribution and other operating expenses, partially offset by a decrease in newsprint and production expense.
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