Wireless costs pull down profits at Videotron

MONTREAL – Despite a surge in new wireless customers, the costs of Videotron’s 4G wireless network ate into 2011 profits, the company reported Wednesday. For the year ended December 31, 2011, Videotron saw its net income fall to $469.3 million, a 6.9% drop from $504.3 million at the end of 2010. Revenues totalled $2.43 billion, up 9.1%, while operating income climbed 4.9% to $1.10 billion. Revenues for the fourth quarter grew 7.4% to $634.8 million, and net income jumped 68.8% to $161.9 million over the same period last year. Videotron credited its strategy of marketing bundled services, including its wireless...