MONTREAL – Quebecor’s year-over-year revenues grew by just 1% for its third quarter ended September 30, 2009.
The Quebec media giant, who consolidates the financial results of its Quebecor Media Inc. subsidiary in which it holds a 54.7% interest, reported revenues of $918.4 million, and operating income of $301.0 million, an 8.5% increase of the third quarter of 2008.
Net income increased by 51.9% or $23.7 million to top $69.4 million, while adjusted income from continuing operating activities was $52.9 million, representing a 24.5% increase from $42.5 million from the same period last year.
"Videotron again posted a significant increase in operating income, reflecting customer growth for all its services for the 17th consecutive quarter”, said president and CEO Pierre Karl Peladeau, in a statement.
In its telecommunications segment, operating income was up $34.7 million (17.3%). It added 44,300 new telephone customers to its total of 979,100; added 35,500 new Internet customers to reach 1.14 million; and activated 6,300 new phones for its wireless telephone service, to bring its total to 79,800 activated handsets.
Videotron increased its customer base for cable television services by 27,100 to end the quarter with 1,759,700 subscribers, while its illico digital TV service surpassed the one million subscriber mark, after the addition of 52,100 new customers this quarter. Its digital penetration rose to more than 59%, compared with 52% in the same period of 2008.
