Quebecor announced Thursday that it reported net income attributable to shareholders of $178.4 million, or $0.76 per share, for the third quarter. This is an increase of $5.3 million compared to the same period in 2021.
During the same period, the Quebec telecom giant’s revenue fell $4.5 million to $1.14 billion, while Quebecor’s operating cash flow rose 10.2% to $403.1 million.
It was the telecoms sector that outperformed last year’s $939.5 million, with revenue of $942.2 million.
The Videotron subsidiary’s revenue rose 12.1% to $30.7 million from mobile services and devices. Videotron’s acquisition of VMedia slightly increased the device maker’s revenues for its Internet access activities by 4.5% with revenues of US$13.6 million.
For its part, TVA Group reported a $20.2 million drop in revenue over the same period.
“In the third quarter of 2022, Quebecor once again demonstrated the rigor of its operational management and strong financial discipline,” said Pierre Karl Péladeau, Quebecor’s President and Chief Executive Officer.
“We truly aspire to become the fourth largest mobile and Internet service provider across Canada, allowing Canadian consumers to benefit from better prices and a robust and reliable network powered by our 5G technology,” he added.
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