Toronto Star Reports Net Loss of $24.4 Million, Cost Cutting Continues
On Wednesday, Torstar, publisher of the Toronto Star, announced the newspaper’s first quarter 2017 financials for the period ended March 31, 2017, and it wasn’t pretty. The company reported a net loss of $24.4 million, or $0.30 per share, compared to a net loss of $53.5 million, or $0.66 per share, for the same period last year. Adjusted loss per share was $0.22, compared to $0.40 for the same period in 2016. Segmented revenue was $156.7 million, a decrease of $18.1 million, or 10 percent, over the first quarter of 2016.
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