On Wednesday, Vidéotron parent company Quebecor Media released its earnings statement for both the fourth quarter of 2016 and the 2016 fiscal year.
Over the course of 2016, Vidéotron significantly increased its mobile revenues by a rate of 26.4 percent or $106.7 million CAD. In addition, internet service revenues rose by 6.3 percent, or $58 million, and its Club Ilico streaming service saw an increase of 33.1 percent at $7.8 million.
“We will maintain a disciplined approach to balancing the pursuit of subscriber growth with control over customer acquisition.”
Average monthly revenue per user (ARPU) increased by 6.8 percent or approximately $9.18 from $135.68 in 2015 to $144.86 in 2016.
“We are satisfied with the results Vidéotron recorded in 2016 and confident that the opportunities created by long‑term trends in the wireless industry will support continuing sustained growth in our mobile telephony services,” said Manon Brouillette, president and CEO of Vidéotron, in a statement.
“We will maintain a disciplined approach to balancing the pursuit of subscriber growth with control over customer acquisition costs in order to maximize the profitability of the mobile service,” she continued.
Furthermore, the company’s revenue generating units experienced a net increase of 117,900 over the course of 2016, which includes 125,300 users on the mobile telephone service, 44,600 connections to the cable internet service and 57,200 Club Ilico memberships.
“We are satisfied with the results Vidéotron recorded in 2016.”
Overall, telecom revenues grew reached $144.8 million, or 4.8 percent, and its adjusted operating income grew by $63.6 million, or by 4.3 percent in 2016. In the fourth quarter, telecom revenue increased by $28.1 million, or by 3.6 percent, and its adjusted operating income increased by $15.6 million or by 4.5 percent.
For Quebecor as a whole, revenues reached $4.02 billion for the 2016 year, which represents a $125.8 million increase from the year prior. For the final quarter of 2016 however, revenues reached $1.05 billion, which is up $26.9 million from the same quarter last year.
Source: Canada Newswire