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

Sportsnet and TVA to broadcast World Cup of Hockey in Canada

World Cup separate from current television-rights and other advertising deals

Corus Média taps TV vet to lead French specialty services

Brigitte Vincent is charged with developing Historia and Séries+

Metro partners with Chatelaine on multi-platform campaign

Effort will promote Metro's local foods with an emphasis on seasonal produce

COMB shuffles board directors

Longtime board member Ron Hutchinson stepping down after more than 20 years

The Loop partners with BuzzFeed for video content

Social shares for the site's content are up 15% since 2014 rebrand

Canadian fans say NHL hockey is ‘hipper’ under Rogers (Survey)

Respondents in SRG survey also identify Tim Hortons as a leading NHL sponsor

Captivate Networks rebrands, adds enhanced ad capabilities

New-look screens intended to increase viewer engagement

Torstar reports Q4 profit, decline in revenue

Company "continues to feel the effects of a challenging print advertising environment"

Rogers rebrand signals renewed focus on consumers

Refinements to its logo, colour scheme part of the media company's new brand identity