Quebecor profit beats estimates as telecom revenue rises

Thu Nov 6, 2014 7:50am EST
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(Reuters) - Canadian telecom and media conglomerate Quebecor Inc reported a better-than-expected quarterly profit, helped by higher revenue in its telecommunications business.

Revenue in the telecommunications business rose 3.3 percent, compared with a 6.2 percent fall in the media business.

Total average monthly revenue per user (ARPU) from all services in the company's Videotron cable and wireless unit rose 5.7 percent in the quarter ended September. ARPU from mobile telephone services rose 6.5 percent during the period.

Mobile telephony revenues increased 30.5 percent, the company said.

Videotron launched a high-speed network during the quarter.

Quebecor, controlled by the Péladeau family, said in July that it was close to a decision on whether to expand its wireless operations outside its home province of Quebec.

The Montreal-based conglomerate last month said it would sell its popular Sun chain of tabloid newspapers to Postmedia Network for C$316 million.

Revenue was flat at C$1.02 billion ($894.8 million).

The company reported an adjusted income from continuing operations of C$65.6 million, or 53 Canadian cents per share.   Continued...

An employee cleans the windows of the head office of Quebecor prior to their annual meeting in downtown Montreal, June 19, 2014. REUTERS/Christinne Muschi