Videotron’s wireless gains buoy Q1 results at Quebecor

MONTREAL – Led by results at Videotron, Quebecor saw first quarter profits jump by over $52 million, the company said earlier this week.Net income attributable to shareholders for the period grew to $56.7 million from $3.9 million year-over-year, which the company said was due primarily to a favourable variance on the valuation of financial instruments. Revenues of $1.01 billion inched up 0.5% from the first quarter of 2017. Revenues increased in Telecommunications ($18.4 million or 2.3% of segment revenues), but fell in Media ($10.9 million or -5.9%) and in Sports and Entertainment ($1.1 million or -2.9%). Adjusted operating income grew 13.6%...