Skip to main content

Quebecor Inc. says net income attributable to shareholders was $40.7-million, or 33 cents per basic share, in the first quarter, compared to $35.6-million and 29 cents per share in the same period last year.

Robert J. Galbraith/The Globe and Mail

Quebecor Inc. will soon decide whether it will expand its wireless service outside of its home province of Quebec, but chief executive Pierre Dion wants to first meet with the federal government.

"We expect to meet with the Canadian government soon in order to let them know what we assume to be the right conditions for us to operate a single service wireless business outside of our home territory," Quebecor president and chief executive Pierre Dion said Thursday.

"Its response will dictate our next step."

Story continues below advertisement

Dion said the company is analyzing its options, but did not specify what he was looking for to make a decision to expand across the country.

Quebecor owns the province's most-read tabloid newspaper and its most-watched TV network. It also operates a 24-hour news TV channel and Videotron, Canada's third-largest cable services provider and a wireless provider in Quebec.

Quebecor bought a swath of wireless spectrum in Ontario, Alberta and British Columbia, in addition to Quebec, in the federal government's spectrum auction earlier this year.

The move raised hopes it would become a fourth national player to compete with Rogers, Telus and Bell, but the Quebec company has been cagey about whether it will take up the challenge.

"I'm confident that our team will manage the process rigorously and that should the plan make sense, we will get the right attention," said Dion, adding that he expects to make a decision in a "few months."

Quebecor said Thursday it earned a profit attributable to shareholders of $40.7-million, or 33 cents per basic share, in the first quarter, compared to $35.6-million and 29 cents per share in the same period last year.

The Montreal-based media company says adjusted income from continuing operations was $49.3-million, or 40 cents per share – up from $36-million or 29 cents a share in the same period of 2013.

Story continues below advertisement

Revenue during the quarter was $1.04-billion, a gain of $11.4-million or just over one per cent.

Quebecor's telecommunications segment grew its revenues by $31.8-million and its adjusted operating income by $21.9-million in the quarter. Videotron Ltd. saw first quarter revenue increases for all of its major services.

Internet access revenue was 6.9 per cent higher at $13.6-million, the mobile phone segment grew 23.4 per cent to $11.7-million and cable television revenue grew marginally to $800,000.

During the quarter, Pierre Karl Peladeau resigned from the Quebecor board following his decision to enter provincial politics. He was elected as a Parti Quebecois party member in April. Sylvie Lalande was appointed board chairman of TVA Group and Francoise Bertrand named the board chairman at Quebecor.

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies