Quebecor Inc. says first-quarter profits slipped to $34.3 million, as its revenues grew 4.5%.
The Montreal-based media company said the results were equal to 53 cents per share, versus $34.9 million, or 54 cents per share in the same period a year ago.
Revenues increase 4.5% to $990.5 million from $948.1 million.
The company’s operating income grew 1.3% to $294.3 million.
Quebecor chief executive Pierre Karl Peladeau said the company managed to post revenue and operating income growth despite major investments in new products and services this year.
The company has launched a variety of new projects this year including its hyped Sun News Network, a right-of-centre, all-news and talk channel.
Quebecor also launched its wireless business last fall, competing with Rogers, Bell, Telus and new player Public Mobile for cellphone customers in the province.
