UPDATE 1-Yellow Media posts Q3 profit on higher online sales

* Q3 EPS C$0.15 vs loss/shr C$0.33 last yr

* Revenue up 5 pct

* Sees growth in diversifying digitally

Nov 3 (BestGrowthStock) – Media and marketing company Yellow Media
Inc (YLO.TO: ) reported a quarterly profit, helped by an increase
in online revenue, and said it was shifting to digital services
to sustain the growth.

The company, which completed its conversion to a
corporation on Nov. 1 and changed its name from Yellow Pages
Income Fund (YLO_u.TO: ), said it expects a stream of new
products and initiatives in the coming year to speed up its
ongoing digital transformation.

The company earned C$74.7 million, or 15 Canadian cents, a
share in the third quarter, compared with a loss of C$168.5
million, or 33 Canadian cents a share, a year ago.

Revenue rose 5 percent to $428.6 million.

Analysts on a average were expecting earnings of 21
Canadian cents a share on revenue of C$418.8 million, according
to Thomson Reuters I/B/E/S.

“Advertiser confidence is improving and we are encouraged
by early signs of stabilization,” Chief Executive Marc Tellier
said in a statement.

Shares of the Verdun, Quebec-based company, which have
gained 11 percent in value since August when it reported
second-quarter results, closed at C$6.19 Tuesday on the Toronto
Stock Exchange.
(Reporting by Gowri Jayakumar in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-Yellow Media posts Q3 profit on higher online sales