MONTREAL – Quebecor Inc. ((TSX:QBR.B) says its continuing media and telecom operations had $50.3 million of adjusted income in the fourth quarter, up 3.5 per cent from a year earlier.
The profit amounted to 41 cents per basic share, up from 39 cents in the fourth quarter of 2013.
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Overall revenue for the Montreal-based media and telecom company was up 2.9 per cent to $989.4 million.
Quebecor said the quarter’s growth was underpinned by the Videotron telecom segment, which had its strongest quarter in terms of subscriber additions since 2011.
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However, Quebecor’s overall profit and revenue were below analyst estimates of 52 cents per share of earnings and $1.09 billion of revenue.
The company is in the process of selling its English-language daily newspapers and other businesses, mostly outside Quebec.
It has also sold 74 Quebec weeklies and abandoned door-to-door distribution of community newspapers and flyers in Quebec.
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