Yellow Media posts lower second quarter profits

Print revenues continue to weaken

Yellow Media Ltd. says profits dropped 45% in the second quarter on decline of print revenues.

The publisher of the Yellow Pages directories says net earnings fell to $27.6 million, or $1.01 per share, compared to $50.3 million or $1.81 per share a year ago.

Revenues slid 9.3% to $220.6 million, from $243.2 million, mainly from continued weakness in its print operations.

The company says print revenues dropped 22.5% over the same time last year to $112.2 million.

Meanwhile, digital revenues grew to $108.4 million, representing 49.1% of total revenues, up from 40.5% during the same period in 2013.

Yellow Media competes with big search engines Google, Yahoo and Bing as well as small digital companies to attract consumers who are the Internet to search for businesses and services.

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