Quebecor (QBR.B) has reported mixed third-quarter earnings that showed its profit rose slightly
despite a dip in revenue from a year earlier.
The Montreal-based telecommunications company announced its profit rose year-over-year by
$5.3 million, or 3%, to $178.4 million compared to $173.1 million a year ago.
Revenue for the quarter ended September 30 totalled $1.14 billion, a $4.5 million decrease from
the same period of 2021.
Quebecor's Videotron unit increased its revenues from mobile services and equipment by $30
million and from internet access by $13 million during Q3.
In its earnings statement, Quebecor stressed that it is working to become Canada’s fourth
largest wireless and internet service provider, and that it is focused on finalizing its $2.85 billion
acquisition of Freedom Mobile. That deal is subject to regulatory approval.
Year-to-date, Quebecor’s stock is down 10% at $25.52 per share.
