MONTREAL – Quebecor Inc. ((TSX:QBR.B) says its continuing media and telecom operations had $50.3 million of adjusted income in the fourth quarter, up 3.5 per cent from a year earlier.
The profit amounted to 41 cents per basic share, up from 39 cents in the fourth quarter of 2013.
Overall revenue for the Montreal-based media and telecom company was up 2.9 per cent to $989.4 million.
Quebecor said the quarter’s growth was underpinned by the Videotron telecom segment, which had its strongest quarter in terms of subscriber additions since 2011.
However, Quebecor’s overall profit and revenue were below analyst estimates of 52 cents per share of earnings and $1.09 billion of revenue.
The company is in the process of selling its English-language daily newspapers and other businesses, mostly outside Quebec.
It has also sold 74 Quebec weeklies and abandoned door-to-door distribution of community newspapers and flyers in Quebec.
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