(Montreal) A week after announcing that major changes at TVA Group would result in a workforce reduction of 547 employees in this division, Quebecor reported Thursday that for all of its activities, third quarter net profit increased by 17 .3% in one year, to 209.3 million, or $0.91 per basic share.
Quebecor recorded revenues of 1.42 billion in the third quarter of fiscal 2023, up 23.8%. The Telecommunications sector posted increases of 30.6% in revenues, to 287.9 million.
TVA Group suffered a 9.1% decline in revenue, while the Sports and Entertainment sector posted a 4% increase in revenue.
In the press release reporting its most recent results, Quebecor reiterates that there is no question of Groupe TVA disappearing from the media and television landscape in Quebec.
Company cited in this dispatch: Quebecor (TSX: QBR. B)