Astral Media Inc.’s third-quarter profit rose 7 per cent from a year ago but missed analyst estimates.
The Montreal-based radio, television and outdoor advertising company said its net income rose to $56.2-million or $1 per share.
That was 2 cents below a consensus estimate of $1.02 per share compiled by Thomson Reuters.
Astral’s revenue was also below analyst estimates.
The company reported $265.5-million in revenue for the three months ended May 31, down from $268-million a year earlier.
The consensus estimate was for Astral’s revenue to increase to $276.4-million.
Astral is being acquired by BC Inc. in a friendly deal awaiting approvals.
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