MONTREAL - Power Corp. of Canada said Thursday it earned $54 million in its latest quarter as revenue dropped.
The diversified conglomerate said the profit amounted to 10 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $535 million or $1.20 per diluted share in the last three months of 2008 which included a one-time charge of $2.4 billion.
Revenue totalled $6.61 billion, down from $7.26 billion.
Power (TSX:POW) said its operating earnings for the quarter totalled $203 million or 42 cents per share, compared with $252 million or 53 cents per share in the same period in 2008.
Shares in the company, which holds investments in financial services and communications, were up 18 cents at $30.33 on the Toronto Stock Exchange on Thursday.