Profit climbs 16% with increased revenue in telecommunications business

  • Quebecor’s profit increased by 16% in the recent quarter
  • Net income rose to 209.3 million Canadian dollars ($151.7 million)
  • Adjusted earnings before interest, taxes, depreciation and amortization increased to C$624.4 million
  • Revenue for the quarter jumped 24% to C$1.42 billion
  • Telecommunications segment revenue was 31% higher at C$1.23 billion
  • Quebecor continues to integrate Freedom Mobile into its operations and upgrade its wireless network

Quebecor, a Canadian company, has reported a 16% increase in profit for the recent quarter. This growth was driven by higher revenue in the telecommunications segment, following the acquisition of Freedom Mobile. The company’s net income rose to 209.3 million Canadian dollars ($151.7 million), while adjusted earnings before interest, taxes, depreciation and amortization increased to C$624.4 million. Revenue for the quarter jumped 24% to C$1.42 billion, with telecommunications revenue reaching C$1.23 billion, a 31% increase. Quebecor continues to integrate Freedom Mobile into its operations and plans to upgrade its wireless network and roll out 5G services across Canada.

Factuality Level: 8
Factuality Justification: The article provides specific financial figures and includes information about the recent acquisition of Freedom Mobile by Quebecor. The information is supported by data and does not contain any obvious bias or misleading information. However, the article could have provided more context about the overall performance of Quebecor and the telecommunications industry in Canada.
Noise Level: 7
Noise Justification: The article provides information on Quebecor’s profit increase and the factors driving it, such as the acquisition of Freedom Mobile. It also includes financial figures and analyst forecasts. However, it lacks analysis of long-term trends or antifragility, and does not hold powerful people accountable or explore consequences. It stays on topic and provides evidence and data, but does not offer actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the telecommunications industry and companies within the industry, particularly Quebecor and Freedom Mobile.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not mention any extreme events or their impacts.
Public Companies: Quebecor (N/A), Freedom Mobile (N/A), Shaw Communications (N/A)
Key People:

Reported publicly: www.marketwatch.com