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)
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video