Canada's Quebecor profit up; wireless arm weak
TORONTO, July 31
TORONTO, July 31 (Reuters) - Regional telecom and media conglomerate Quebecor Inc posted a sharp jump in second-quarter adjusted profit on flat revenue on Thursday, as cost-cutting in its media unit offset weakness in its wireless and cable arm.
Quebecor said it had adjusting income from continuing operations of C$66.0 million, or 54 Canadian cents a share. Revenue was up 0.6 percent at C$1.07 billion.
Analysts had on average expected Quebecor to earn 47 cents a share on revenue of C$1.08 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Alastair Sharp; Editing by Nick Zieminski)
- U.S. and Arab allies launch first strikes on fighters in Syria |
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Israel downs Syrian warplane it says violated its Golan airspace
- Qatar adamant it will host 2022 World Cup despite doubts
- U.S. attack on IS targets in Syria "will be answered" - fighter