Cable / Telecom News

Losses top $167M at Quebecor

MONTREAL – Quebecor Inc. posted a net loss of $167.8 million in the third quarter, a dramatic turnaround from the $17 million in profits it posted at this time last year.The company attributed the loss to an unfavourable variance of $184.9 million, including a $177 million unfavourable non-cash impact of fluctuations in the value of goodwill, intangible assets and derivative financial instruments.Revenues were up 1.9% year-over-year to $1.08 billion from $1.05 billion, and operating income increased 8.9% to $380.3 million from $349.3 million.  On an adjusted basis, Quebecor recorded a profit of $63.7 million, up 28.7% from $49.5 million.Quebecor consolidates...