Postmedia posts net loss of $5.1 million as digital revenue growth streak continues

Postmedia Network Canada Corp. posted its ninth consecutive quarter of double-digit digital revenue growth on Thursday, but declining print revenues and an impairment charge contributed to a net loss of $5.1 million for the company’s fiscal second quarter, the Financial Post reports.
In the three months ending Feb. 28, 2019, Postmedia, which is Canada’s largest newspaper chain, saw its revenue decline to $145.7 million from $157.6 million in the same period last year.
The drop in the Postmedia second fiscal quarter, the company said, was due to a $10 million decrease in print advertising and a $2.9 million decline in print circulation revenue. The company noted, however, that the rates of decline for both metrics slowed as compared to last year.