Quebecor tops expectations

Quebecor Inc. (QBR.B-T) posted a 19 percent rise in net income on today, beating analyst expectations, as the publisher, broadcaster and telecoms company recorded growth across a range of its businesses.

Quebecor said it earned $82.8 million or $1.28 a share in the third quarter, compared with $69.4 million, or $1.08 a share, a year ago.

Revenue was up 4.9 percent to $969.9 million.

Adjusted earnings from continuing operations rose 12.8 percent to $59.7 million, or 93 cents a share, from $52.9 million or 82 cents a share a year ago.

Analysts had, on average, expected adjusted earnings of 90 cents a share on revenue of $970 million, according to Thomson Reuters.

Telecom revenue, its biggest source of income, was up 9.6 percent at $551.7 million. Along with cable-TV, Internet and telecoms businesses, Quebecor also owns the Sun Media newspaper chain.