Quebecor’s Q2 revenue flat as telecom growth offset by media decline

MONTREAL — Quebecor Inc.’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 Quebecor’s Videotron cable, internet and wireless business boosted revenue from telecommunications to $847.2 million, from $826.6 million last year.

Revenue at Quebecor’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 Quebecor’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)

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