Quebecor's Freedom Mobile purchase pushes it to big earnings gains
BNN Bloomberg
Quebecor Inc. says its purchase of Freedom Mobile drove a big boost in earnings last quarter.
The Montreal-based telecommunications company is reporting that net income climbed 10 per cent to $171.3 million in the three months ended June 30 from $156.3 million in the same period a year earlier.
Quebecor says revenues in its second quarter jumped 25 per cent to $1.40 billion from $1.12 billion the year before.
On an adjusted basis, income from continuing operations rose to 79 cents per share last quarter compared to 68 cents per share a year prior, beating analyst expectations of 72 cents per share.
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