07:37 AM EDT, 04/11/2025 (MT Newswires) -- Corus Entertainment (CJR-B.TO) on Friday reported its second-quarter adjusted net loss widened and came in worse than the consensus estimate compiled by FactSet.

For the three months ended Feb. 28, the company reported an adjusted net loss attributable to shareholders of $42.7 million, or $0.21 per share, compared with a loss of $5.9 million, or $0.03 per share, a year earlier. The consensus estimate compiled by FactSet was for a loss per share of $0.12.

Consolidated revenue decreased 10% to $270.4 million in Q2 compared with $299.5 million, a year-ago. Revenue was in-line with analyst expectations for the period.

"Our television advertising revenue was modestly ahead of our outlook for the second quarter... at the same time, we recognize that the industry landscape remains challenging with limited visibility," said Corus Co-Chief Executive and Chief Financial Officer John Gossling. "As such, importantly, we have taken significant steps to progress our capital and debt plan, and our updated credit facility provides enhanced stability as we pursue further right-sizing initiatives and targeted growth opportunities to create a more sustainable future."

The company expects over-supply of premium digital video inventory from foreign competitors and continued generally lower demand for linear advertising in the third quarter. Year-over-year percentage declines in Television advertising revenue in Q3 are expected to be in the mid-teens.

Corus added that it will continue with its implementation of additional cost reduction initiatives and expects general and administrative expenses to decline in the range of 5% to 10% for Q3, compared with the prior year.

Shares of the company closed down 4.2% to $0.115 on Thursday on the Toronto Stock Exchange.