Videotron leads modest growth at Quebecor

MONTREAL – Despite solid growth from its Videotron telecommunications group, Quebecor saw a $19.4 million year-over-year drop in its first quarter profits.Net income for the quarter ended March 31, 2010 was $38.3 million, down from $57.7 million in the same period of 2009. Adjusted income from continuing operations, minus certain expenses, were up by 6.8% to $46.8 million, while revenues increased 5% to top $948.1 million. "These results are due to the strong performance of the Telecommunications segment, which logged customer growth for all services for the 19th straight quarter, combined with improved results in the News Media segment”, said...