corus entertainment inc shares dropped in early trading on friday after the company reported lowerthanexpected firstquarter profit as lower revenue from advertising weighed on performance at 940 am et shares were trading over 14 down at 193 canadian dollars us144 the canadian massmedia company reported net income of c314 million or c016 a share for the three months ended nov 30 this was below the prioryear periods c762 million or c036 cents a share lower than analyst forecasts of c025 a share taken from factset revenue fell to c4312 million from c4639 million as analysts expected the decline was in large part due to a lagging advertising dollars continued to lag corus expects the trend of uncertain macroeconomic conditions to persist throughout the year keeping ad spend low but noted that the rate of decline should improve in the calendar year