Quebecor reports Q3 gains
Revenues, income and subscriber numbers all increased over the same period last year for the mediaco.
Quebecor reports solid numbers coming out of Q3, despite investments in infrastructure.
Quebecor’s Q3 revenues are up $45.4 million (4.9%) to $969.9 million against a similar period the previous year, and net income ran to $82.8 million compared to $69.4 million in 2009.
Operating income sits at $329.9 million (up $28.9 million), and adjusted income from continuing operations is $59.7 million, compared with $52.9 million in 2009.
In the telecommunications segment, operating income was up $24.9 million on the strength of 32,800 new cable telephone, 32,100 new cable internet, and 20,500 new cable TV subscribers. The company added 8,400 subscriber connections on its mobile telephone service.
Videotron went 3G+ on Sept. 9, and as of the end of that month, there were 21,900 subscriber connections on the new network, including 11,000 migrations from the mobile virtual network operator service.
‘Despite costs incurred in the third quarter of 2010 to launch new products and new initiatives, Quebecor logged an excellent performance and posted increases in revenues, operating income and net income,’ said president and CEO Pierre Karl Péladeau in a statement. ‘In the telecommunications segment, revenues and operating income were both up significantly. Videotron recorded considerable customer additions for all its services, despite aggressive competition in the marketplace.’
From Playback Daily