Postmedia reports second-quarter results. Highlights:
— “Revenue for the quarter was $110.8 million as compared to $97.3 million in the same period in the prior year, representing an increase of $13.5 million (13.9%). The revenue increase was primarily due to increases in advertising revenue of $6.9 million (16.0%), circulation revenue of $2.2 million (6.6%) and other revenue of $4.8 million (67.4%), partially offset by decreases in parcel revenue of $0.4 million (2.9%). Excluding the impact of the Saltwire asset acquisition, advertising revenue for the quarter increased by 6.0% and other revenue for the quarter increased by 47.7%.”
— “Total operating expenses excluding depreciation, amortization and restructuring decreased $1.1 million, or 1.1%, for the quarter ended February 28, 2025, relative to the same period in the prior year. The decrease relates to decreases in compensation, newsprint, distribution and other operating expenses, partially offset by an increase in production expense.”
— “Net loss in the quarter ended February 28, 2025 was $16.0 million, as compared to a net loss of $20.1 million in the same period in the prior year.”
Year to Date Results
— “Revenue for the six months ended February 28, 2025 was $220.1 million as compared to $202.0 million in the same period in the prior year, representing an increase of $19.1 million (9.5%). The revenue increase was primarily due to increases in advertising revenue of $12.5 million (13.3%), circulation revenue of $5.5 million (8.5%), other revenue of $1.1 million (7.4%), partially offset by decreases in parcel revenue of $0.1 million (0.2%). Excluding the impact of the Saltwire asset acquisition, advertising revenue for the six months ended February 28, 2025 increased by 3.5%.”
— “Total operating expenses excluding depreciation, amortization and restructuring decreased $5.0 million, or 2.5%, for the six months ended February 28, 2025, relative to the same period in the prior year. Excluding the impact of the Saltwire asset acquisition, total operating expenses excluding depreciation, amortization and restructuring decreased $16.7 million or 8.3%.”
— “Net loss in the six months ended February 28, 2025 was $40.5 million, as compared to a net loss of $30.7 million in the same period in the prior year.”
See Postmedia news release here
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