QuebecorвЂ™s Q2 revenue flat as telecom growth offset by media decline
MONTREAL вЂ” Quebecor Inc.вЂ™s revenue in the second quarter was $1.04 billion, up a slight 0.5 per cent from the same time last year as growth at its telecommunications arm was largely offset by a decline in media revenue.
Growth at QuebecorвЂ™s Videotron cable, internet and wireless business boosted revenue from telecommunications to $847.2 million, from $826.6 million last year.
Revenue at QuebecorвЂ™s media arm fell to $186.6 million from $199.5 million while revenue from the sports and entertainment division was relatively unchanged at $36.9 million, up from $36 million.
The Montreal-based company had $41.3 million of net income attributable to shareholders in the second quarter, or 18 cents per share.
That was down from $137.8 million or 57 cents per share in the second quarter of 2017, when QuebecorвЂ™s profit was boosted by a gain from the sale of a spectrum licence.
Adjusted income from continuing operating activities, which excludes the spectrum sale and other items, was $106.2 million or 45 cents per share, up from $88.6 million or 37 cents per Quebecor share.
Companies in this story: (TSX:QBR.B)