Quebecor Q2 results show revenue increase

Quebecor’s second quarter results shows operating growth up
21%, citing a “new period of economic prosperity” and an adjusted income increase of more than 20% percent.

Quebecor reports revenues of $994.0 million, up $47.6 million (5.0%) from the same quarter in 2009, while net income was $65.5 million ($1.02 per basic share), compared with $76.8 million ($1.19 per basic share) in Q2 2009.

“Quebecor maintained its momentum in the second quarter of 2010, posting increases in revenue and operating income,” Pierre Karl Peladeau, President and Chief Executive Officer of Quebecor, said in a statement.

Broadcaster Magazine reports:

“Quebecor consolidates the financial results of its Quebecor Media Inc. (“Quebecor Media”) subsidiary, in which it holds a 54.7% interest.”


“At the dawn of a new period of economic prosperity, Quebecor intends to seize every opportunity to develop its integrated business model in order to maximize its growth going forward.

“Adjusted income from continuing operations, which reflects the growth of the Company’s operating activities, not counting unusual or one-time items, was up 21.7%. The Telecommunications segment spearheaded our second quarter growth with significant year-over-year revenue and operating income increases, driven by customer increases for all its services. We are pressing ahead with the build-out of the Advanced Wireless Services (“AWS”) network in order to start it up this summer. As of June 30, 2010, all switching services and platforms were installed and operational. Siting and tower-sharing agreements had been signed for more than 95% of the antenna sites and the equipment was installed or being installed at all those sites. We remain focused on our promise to deliver a superior customer experience by rolling out a reliable, effective wireless network which, combined with our other products and exclusive content, will provide consumers with one-stop solutions to all their telecommunications needs.”