MONTREAL — Quebecor Inc. is reporting that its net income attributable to shareholders increased almost five per cent to $186.7 million in the third quarter on strong wireless numbers and revenue growth.
The Montreal-based media giant says it earned 80 cents per share for the quarter ended Sept. 30, up from 74 cents per share or $178.4 million a year prior.
On an adjusted basis, income from operating activities rose 37 per cent to $142 million or 61 cents per share in the third quarter, compared with $103.7 million or 43 cents per share in the third quarter of 2017.
Quarterly revenues rose 1.7 per cent year over year to almost $1.06 billion.
Quebecor was expected to earn 51 cents per share in adjusted profits on $1.064 billion of revenue, according to analysts polled by Thomson Reuters Eikon.
Total net income decreased by 18 per cent to $191 million, from $233.3 million a year ago when it recorded one-time gains from the sale of spectrum licences and impairment of goodwill.
Companies in this story: (TSX:QBR.B)
The Canadian Press