Astral Media Q3 profit up but misses analyst estimates by two cents a share

Bell is purchasing Montreal-based Astral Media for $3.38 billion (March 16, 2012, CTV Montreal/Jason Clarke)

MONTREAL--Astral Media Inc.'s third-quarter profit was up seven per cent from a year ago but missed analyst estimates.

The Montreal-based radio, television and outdoor advertising company (TSX: ACM.A) said its net income rose to $56.2 million or $1 per share.

That was two cents below a consensus estimate of $1.02 per share compiled by Thomson Reuters.

Astral's revenue was also below analyst estimates.

The company reported $265.5 million in revenue for the three months ended May 31, down from $268 million a year earlier.

The consensus estimate was for Astral's revenue to increase to $276.4 million.