Quebecor reports Q3 profit and revenue up from year ago
By The Canadian Press on November 9, 2023.
MONTREAL – Quebecor Inc. reported its third-quarter profit rose compared with a year ago as the acquisition of Freedom Mobile Inc. earlier this year helped boost revenue. The company reported $209.3 million in net income attributable to shareholders for the quarter ended Sept. 30, up from $178.4 million a year earlier. Quebecor says the profit amounted to 91 cents per share, up from 76 cents per share in the same quarter last year. Revenue for the quarter totalled $1.42 billion, up from $1.14 billion a year earlier. Quebecor says its adjusted income from continuing operating amounted to 88 cents per share, up from 75 cents per share in the same quarter last year. Last week, Quebecor’s TVA Group announced it was laying off 547 employees – nearly a third of its workforce – as part of plan that involves overhauling its news division, ending its in-house entertainment content production and optimizing its real estate assets. This report by The Canadian Press was first published Nov. 9, 2023. Companies in this story: (TSX:QBR.B) 9-8
