Q1 revenues up, profits down at Quebecor

MONTREAL – Rising revenues were not enough to offset first quarter net losses at Quebecor, the company said Thursday.For the period ended March 31, 2017, revenue of $996.4 million was up 2.2% year-over-year. Revenues increased in Telecommunications ($27.4 million or 3.5% of segment revenues) and in Sports and Entertainment ($1.1 million or 10.7%), though revenues decreased in Media ($10.3 million or -4.7%).The company reported a $200,000 net loss to shareholders in the period, compared with net income attributable to shareholders in the amount of $69.9 million in the same period of 2016, primarily due to an unfavourable variance of $70.1 million unfavourable variance in losses and gains on...