Quebecor reports net income of $40.7 million in Q1

The Montreal-based media company says adjusted income from continuing operations was $49.3 million

Quebecor Inc. says net income attributable to shareholders was $40.7 million, or 33 cents per basic share, in the first quarter, compared to $35.6 million and 29 cents per share in the same period last year.

Pierre Dion

The Montreal-based media company says adjusted income from continuing operations was $49.3 million, or 40 cents per share – up from $36 million or 29 cents a share in the same period of 2013.

Revenue during the quarter was $1.04 billion, a gain of $11.4 million or just over one per cent.

Quebecor’s telecommunications segment grew its revenues by $31.8 million and its adjusted operating income by $21.9 million in the quarter. Videotron Ltd. saw first quarter revenue increases for all of its major services.

Internet access revenue was 6.9 per cent higher at $13.6 million, the mobile phone segment grew 23.4 per cent to $11.7 million and cable television revenue grew marginally to $800,000.

During the quarter, Pierre Karl Peladeau resigned from the Quebecor board following his decision to enter politics. Sylvie Lalande was appointed board chairman of TVA Group and Francoise Bertrand named the board chairman at Quebecor.

Related
• TVA Groupe posts Q1 net loss

“During the first quarter of 2014, Quebecor posted solid consolidated financial results and continued growth in the Telecommunications segment,” said president and CEO Pierre Dion.

“The growth was driven primarily by the telecommunications segment, as well as by the favourable impact of the various refinancing operations completed at advantageous interest rates.”

Dion added that by leveraging its strengths, “Quebecor will continue positioning itself to pursue its business development and profitability targets and create shareholder value.”

Quebecor owns the province’s most-read tabloid newspaper and its most-watched TV network. It also operates a 24-hour news TV channel and Videotron, Canada’s third-largest cable services provider.

Media Articles

Vice Canada launching Quebec division

Company also opening a Canadian office of its in-house creative agency Virtue

Raptors’ game 4 sets ratings record for TSN

More than one-third of GTA residents watched Monday’s game

CBC unveils 2016-2017 broadcast and digital lineups

Public broadcaster adds an animated series, a daytime talk show and more

AmEx influencer campaign travels north of expectations

Social and acquisition teams band together for the company's latest campaign

Facebook to close desktop ad exchange

What comes next now that FB shifts focus from desktop to mobile ads?

The neuroscience that explains TV’s enduring appeal

Brainsights research shows size matters when it comes to ad format

Thinkingbox looks to grow globally with new funding

Vancouver-based digital production studio lands its first outside investor

CRTC calls hearing into skinny basic rollout

Hearing will determine if BDUs are adhering to regulator's plan to offer Canadians more choice

Mobile driving gains in time spent with media (Report)

Time spent with digital exceeds TV by nearly an hour each day