Wireless network costs eat into profits at Quebecor
MONTREAL – Despite strong gains at its cable and telecom subsidiary Videotron, Quebecor Inc. saw its third quarter profits plummet by 35%. The Montreal-based media giant said Wednesday that net income attributable to shareholders for the quarter ended September 30 was $26.1 million, well down from $83.0 million in the third quarter of 2010. Revenues for the period were $1.01 billion, a 4.6% year-over-increase increase from $969.9 million. Videotron added 168,700 revenue-generating units (RGUs) this quarter, a 79.9% increase in growth recorded in the same quarter of 2010. RGUs are defined as the sum of cable television, Internet access and cable telephone service...
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