Yellow Pages revenue drops 12 per cent as print, digital income declines

MONTREAL – Yellow Pages Ltd. says revenues fell nearly 12 per cent in its latest quarter due to a decline at its print and digital media products.

The Montreal-based company posted revenue of $70.9 million for the quarter ended Sept. 30, down from $80.3 million in the same period last year but slightly above expectations.

Yellow Pages says net earnings rose to $13.7 million in its third quarter from $9.0 million a year earlier as a result of restructuring, decreases in depreciation and amortization and other “financial charges”.

The shifts translated into earnings of 51 cents per diluted share, up from 34 cents per diluted share the year before.

Analysts had expected the digital media and marketing company to earn 53 cents per share on $68 million in revenue, according to financial markets data firm Refinitiv.

CEO David Eckert says the company is “very pleased” with results that reflect its “continuing progress toward revenue stability.”

This report by The Canadian Press was first published Nov. 12, 2021.

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