Canada's Glacier Media Q2 revenue falls on print exit, advertising weakness
Canada's Glacier Media Q2 revenue falls on print exit, advertising weakness
Overview
Canada business information provider's Q2 revenue fell 7.3% yr/yr as legacy print exited
Q2 EBITDA rose to C$1.4 mln from a loss, aided by cost containment and mix shift
Net income swung to profit, helped by C$5.7 mln interest recovery from tax negotiations
Outlook
Company did not provide specific guidance or outlook for future periods
Result Drivers
PRINT EXIT - Revenue fell mainly due to exit from legacy print community media operations
ADVERTISING WEAKNESS - Advertising revenue declined due to economic challenges and closure or sale of community media publications
COST CONTAINMENT - Improved profitability driven by cost containment and rationalization in core operations
Company press release: ID:nGNX28J85X
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| C$30.23 mln |
|
Q2 Net Income |
| C$5.25 mln |
|
Q2 Capex |
| C$490,000 |
|
Q2 EBITDA |
| C$1.4 mln |
|
Q2 EBITDA Margin |
| 4.6% |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)