Quebecor sees adjusted Q4 earnings rise, says it’s poised for future growth

Quebecor Inc. had $62.5 million of net income in the fourth quarter, up from $6.2 million a year earlier, as the company refocused its news media operations and signed several deals to set it up for future growth, including the acquisition of the French-language broadcast rights for NHL games in Canada. Net income attributable to […]

Quebecor Inc. had $62.5 million of net income in the fourth quarter, up from $6.2 million a year earlier, as the company refocused its news media operations and signed several deals to set it up for future growth, including the acquisition of the French-language broadcast rights for NHL games in Canada.

Net income attributable to shareholders was $43.4 million, or 35 cents per basic share, for the three months ended Dec. 31, versus $7.1 million or six cents year over year.

Adjusted earnings from continuing operations came in at $68 million, or 55 cents per basic share, for the fourth quarter, compared with $52.3 million, or 42 cents per basic share, in the same period of 2012. Revenues for the quarter remained relatively flat, up 0.5 per cent to $1.12 billion.

Analysts’ estimates compiled by Thomson Reuters had called for 53 cents of adjusted earnings on $1.15 billion in revenues

Earlier this week, the company’s former CEO Pierre Karl Peladeau announced that he was running for the Parti Quebecois in the next election on April 7. It’s expected he will be required by the province’s ethics commissioner to put his shares in Quebecor in a blind trust if elected.

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

Photo Gallery: Marketing’s Best of the Year

Agencies, clients, media and tech came together to see who would be chosen

Marketing reveals its ‘Best of the Year’ winners

Have a look at the Marketer, Media Player, Agency and Tech Player of the Year

Media Player of the Year 2015: YouTube

An entertainment empire with a distinct culture and stable of A-list stars

Lululemon and the no-sell mentality

Helping your customers can be just as effective as advertising

Canadian brands get into trivia game with Play The Future

Montreal-based company combines predictive trivia with branded content

Alliance for Audited Media to measure multi-platform media

New category will provide analysis of all-you-can-read platforms

CTV moves Corden to main network

Programming executives believe it has the potential to become a 'breakout' hit

Bell Media announces Super Bowl 50 advertiser roster

Barring a successful appeal, this will be the last Super Bowl with Canadian commercials

Yahoo to cut 1,700 jobs, shutter offices and dump products

Internet operations and patents may be sold as investors lose faith in grand resurrection