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Quebecor revenue, earnings surge after Freedom Mobile takeover

‘ and allows us to start paying down debt as opposed to borrowing to service our dividend policy,” chief executive Pierre Karl Péladeau said during Thursday’s earnings call.

“Our mobile network now reaches nearly 70 per cent of Canada’s population and we will be able to further expand our coverage by functioning as a mobile virtual network operator,” Péladeau said in a press release. Quebecor now has over 3.6 million subscriber connections in its mobile telephone service, an additional 124,700 or 7.5 per cent increase from the previous year. Its internet access customer count was up 38,100, a 2.4 per cent increase, to over 1.7 million customers.Article content

Desjardins analyst Jerome Dubreuil said the wireless net additions of 49,100 excluding Freedom Mobile were ahead of the 41,100 consensus.

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Quebecor Inc. Reports Boost in Earnings Following Freedom Mobile AcquisitionQuebecor Inc. has announced a significant increase in earnings after acquiring Freedom Mobile, adding over 1.8 million customers. The company reported a 10% rise in net income and a 25% jump in revenues in the second quarter. Quebecor's entry into the national wireless market through the purchase of Freedom Mobile has positioned it as Canada's fourth national wireless provider.
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