Torstar Corporation reported their second quarter results this morning, and it looks like the revenue is down this quarter as advertising was not as strong as expected. Revenue was $383.9 million for the three months ended June 30, down $9.4 million, or 2.4 per cent, from the year-earlier quarter.
Earnings before interest, taxes, depreciation and amortization, commonly known as EBITDA, for the second quarter were $59.8 million, down $5.9 million, from the second quarter of 2011.
“Our media results were not immune to the soft advertising environment that affected many media operations in the past quarter,” David Holland, president and chief executive officer of Torstar said in a release.
Torstar Corporation has a number of holdings include Metroland community newspapers and Harlequin books. Its digital properties include thestar.com, Workopolis, Travelalerts.ca, and Wagjag.