Quebecor reports $206.6M Q2 net income, up from $171.3M a year ago

By The Canadian Press on August 8, 2024.

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Quebecor headquarters is seen as the media company holds its annual meeting Thursday, May 11, 2023 in Montreal. THE CANADIAN PRESS/Christinne Muschi

MONTREAL – Quebecor Inc. reported second-quarter net income of $206.6 million, up from $171.3 million a year ago as its revenue inched lower.

The company says its profit amounted to 90 cents per diluted share for the quarter ended June 30 compared with a profit of 73 cents per share a year earlier.

Revenue totalled $1.39 billion, down from $1.40 billion in the same quarter last year.

The tick lower came as telecommunications revenue fell 1.2 per cent, while sports and entertainment revenue dropped 7.0 per cent.

Media revenue rose 2.3 per cent.

Quebecor says its adjusted income from operating activities amounted to 89 cents per share in its latest quarter, up from 79 cents per share a year earlier.

This report by The Canadian Press was first published Aug. 8, 2024.

Companies in this story: (TSX:QBR.B)

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