Money

Quebecor profit beats estimates

REUTERS

Quebecor president and CEO Pierre Dion. REUTERS/Christinne Muschi

Quebecor president and CEO Pierre Dion. REUTERS/Christinne Muschi

Quebecor Inc reported a better-than-expected quarterly profit, helped by higher revenue in its telecommunications business.

Revenue in the telecommunications business rose 3.3%, compared with a 6.2% fall in the media business.

Total average monthly revenue per user (ARPU) from all services in the company's Videotron cable and wireless unit rose 5.7% in the quarter ended September. ARPU from mobile telephone services rose 6.5% during the period.

Mobile telephony revenues increased 30.5%, the company said.

Videotron launched a high-speed network during the quarter.

Quebecor, controlled by the Peladeau family, said in July that it was close to a decision on whether to expand its wireless operations outside its home province of Quebec.

The Montreal-based conglomerate last month said it would sell Sun Media, this chain of tabloid newspapers, to Postmedia Network for $316 million.

Revenue was flat at $1.02 billion.

The company reported an adjusted income from continuing operations of $65.6 million, or 53 cents per share.

Analysts had on average expected earnings of 49 cents per share on revenue of $1.05 billion, according to Thomson Reuters I/B/E/S.