Quebecor Inc. reported strong financial results but added fewer wireless and internet customers than expected in the fourth quarter.
Videotron also recorded a drop in average monthly billing per user , which was $53.25. That was down only slightly by 0.6 per cent, but it was the first quarterly drop in ABPU that the company’s growing wireless business has recorded since 2014, according to Canaccord Genuity’s Aravinda Galappatthige.Analysts suggested the decline in ABPU could be due to the Videotron’s launch of Fizz, a discount wireless brand, in the third quarter.
Still, Quebecor’s overall revenue increased by 2.6 per cent to $1.09-billion in the fourth quarter, in line with analyst forecasts. Last year, Quebecor paid $1.69-billion to buy out the remaining interest the Caisse de dépôt et placement du Québec held in the company's main subsidiary, Quebecor Media Inc.Pierre Karl Péladeau, Quebecor’s controlling shareholder and chief executive officer, pointed to that development as a major milestone in 2018.
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