(Montreal) Quebecor posted a net profit of 117.1 million in the first quarter of the current fiscal year, slightly lower than the 120 million reported a year earlier.
During the same period, net earnings attributable to shareholders decreased from $0.49 per basic share to $0.51.
Revenues earned by the Quebec telecommunications giant fell by 0.3% in one year, from 1.09 billion to 1.088 billion in the first quarter of 2022. Revenues in the Telecommunications sector fell from 914 million to 903.4 million , while those in the Media sector rose from 174.8 million to 181.8 million.
The president and CEO of Quebecor, Pierre Karl Péladeau, maintains that in the first quarter of the current fiscal year, the company continued to perform well in the competitive environment of Quebec.
Furthermore, Mr. Péladeau says that the Competition Bureau’s recent decision to oppose Rogers Communications’ offer to acquire the assets of Shaw Communications helps Quebecor to consider expanding its telecommunications activities more favorably. wireless by procuring alternatives for the acquisition of Shaw’s wireless assets that may be disposed of by Rogers.
On May 11, Quebecor’s Board of Directors declared a quarterly dividend of $0.30 per share on Class A and B shares to be paid on June 21.
Company quoted in this dispatch: Quebecor (TSX: QBR.B)