Quebecor’s adjusted profit falls, net income rises, overall revenue stable

MONTREAL – Quebecor Inc.’s second-quarter net profit was up 21 per cent but the Montreal-based media company’s adjusted earnings were down, falling short of analyst estimates by four cents a share.

Quebecor (TSX:QBR.B) says its net income rose to $67 million, or $1.05 per basic share — due mainly to non-operating items.

Its adjusted income from continuing operations fell to $48.7 million or 77 cents per basic share from $60 million or 93 cents per basic share a year earlier.

Quebecor’s overall revenue increased by $33 million to just under $1.09 billion.

Analysts had been expecting 97 cents per share of adjusted earnings on $1.1 billion of revenues, according to analysts polled by Thomson Reuters.