Torstar Corp Down 3.5%, But Steady Just Under $10 Mark on Q2 Result
Publisher Torstar Corp (TS-B.TO) has booked 36 cents in losses - which add to the 44 cents lost yesterday - after it reported lower than expected second quarter earnings.
The stock actually rose 3 cents to a day high 10.35 in the early minutes but was down below the 10.00 mark around an hour later and has traded in a pretty thin range since.
It reported net income of $22.7 million or 29 cents a share compared with a net loss of $4.4 million or 6 cents a share in the previous corresponding period. Revenue was only slightly up at $376.5 million from $373.7 million.
Analysts on average forecast earnings of 41 cents a share and revenue of $370.5 million, according to Thomson Reuters I/B/E/S.
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