Quebecor reports Q1 profit and revenue up from year ago

MONTREAL — Quebecor Inc. reported its first-quarter profit was up compared with a year ago, helped by strength in its telecommunications business.

The company says its net income attributable to shareholders totalled $173.2 million or 75 cents per share for the quarter ended March 31, up from a profit of $120.9 million or 52 cents per share a year earlier.

Revenue totalled $1.36 billion for the quarter, up from $1.12 billion in the first quarter of 2023, boosted by the acquisition of Freedom Mobile in April 2023.

Quebecor says its adjusted income from operating activities amounted to 71 cents per share in its latest quarter, up from 59 cents per share in the same quarter last year.

The company also announced the appointment of Sylvie Lalande as its new board chair.

Lalande, a member of the board since 2011 and vice-chair and lead director since 2018, fills the vacancy left by the death of former prime minister Brian Mulroney.

This report by The Canadian Press was first published May 9, 2024.

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

The Canadian Press