Videotron parent company Quebecor announced its third quarter 2017 financial results today, reporting an estimated $1.03 billion CAD in revenue.
In the three-month period ending September 30th, 2017, Quebecor as a whole was able to increase its quarterly revenues by $36.4 million CAD dollars or 3.6 percent. During the same period, the company increased its adjusted operating income by $31.3 million to $421.1 million.
Despite tough competition in the Quebec market, fuelled in large part by its own presence in the province, Quebecor’s telecommunications arm, which includes Videotron, grew its revenues by $30 million, a 3.8 percent year on year increase.
Specifically, Videotron’s mobile revenue increased by $21.4 million.
Elsewhere, the company’s Club Illico over-the-top video streaming service — which is Videotron’s answer to platforms like Netflix and CraveTV — saw revenue increase by $2.3 million, representing an impressive 29.5 percent increase from the same time last year.
Videotron’s average revenue per user (ARPU) grew by $9.88 to $146.58. It should be noted here that the company is including revenue derived across all of its services, instead of just the revenue it made from its wireless subscribers.
Included in Quebecor’s third quarter results is the sale of the seven 2,500 MHz and 700 MHz wireless spectrum licenses the company sold to Shaw Communications on July 24, 2017 for $430 million in cash considerations.
On Wednesday, Videotron announced that it has passed the 1 millionth wireless subscriber mark. The company launched its wireless network in 2010.