increased its loss to $586.3 million or $22.33 per share in the fourth quarter, compared with a loss of $431.6 million or $16.35 per share last year.
Net losses in the fourth quarter of 2017 and 2016 are mainly attributed to charges of $507 million and $600 million recorded in the fourth quarter of 2017 and 2016, respectively, related to the write-down of intangible assets and goodwill.
Quarterly revenues increased from 202.7 million a year ago to 183.8 million this year.
This 9.4% decline is mainly attributed to lower print revenues in the YP sector. Media revenues and digital solutions totaled $137 million, down 4.3% from the same period last year due to decreases in the YP segment.
Printed revenues decreased 21.6% year-over-year to $46.7 million as a result of a decline in print media customers resulting from the transition of marketing expenses printed to digital marketing.
Total revenue decreased 8.8% year-over-year to $745.9 million for the year ended December 31, 2017, primarily due to lower print revenues .
The net loss was $589.3 million, a diluted loss of $22.32 per share for the year ended December 31, 2017, compared to a net loss of $403.7 million, a diluted loss of 15, $ 23 per share for the corresponding period last year.
Hunter Texidor was born and raised in Toronto. He has written for Billboard, The Prague Post and Passport Magazine. In regards to academics, Sage earn his BBA from Mcmaster in Hamilton. Hunter covers business and economy stories here at Billionaire 365.