Quebecor Inc. says its profit rose last quarter as it managed to increase its revenue per mobile customer for the first time in nearly three years.
The media and telecommunications firm reported its net income attributable to shareholders totalled $211.5 million in its fourth quarter, up from $177.7 million a year earlier.
Quebecor said the increase came as it added 73,900 mobile lines in the quarter, compared with an increase of 87,500 in the same period of 2024, while average monthly mobile revenue per user (ARPU) was $35.23 in the quarter, up from $34.75 a year earlier.
Desjardins analyst Jerome Dubreuil said in a note it was the first time in 11 quarters that Quebecor recorded ARPU growth.
Analysts generally praised the company’s performance, with Dubreuil calling it a “dominant quarter in wireless” and adding the Quebecor “won the quarter on all fronts” compared with its competitors’ mobile customer gains. He said Quebecor was also “the first company among the Big 4 to report positive ARPU growth in almost two years.”
Since 2023, Quebecor’s wireless brands have been offering cheaper plans compared with rivals as the company has sought to add subscribers.
The trend followed the acquisition of Freedom Mobile by its Videotron subsidiary, which it was hailed as a new fourth national carrier.
As part of that transaction, Videotron was assigned a list of mandatory conditions by the federal government, including that it must offer pricing plans at least 20 per cent lower than its competitors for 10 years.
That has prompted more intense competition in the sector, as often described by analysts and telecom executives, with Quebecor’s competitors forced to pivot and offer discounted plans of their own. While that’s helped those companies add new subscribers, it’s often been cited as a factor driving down ARPU year-over-year.
More recently, some big players like Rogers and Bell have both said they are taking a more balanced approach and being selective with their offers and promotions. Telus said earlier this month its most recent quarterly results were affected by “irrational tactics” within the industry, as smaller players opted for aggressive pricing.
For Quebecor, the results reinforce “its position as Canada’s fourth major telecommunications provider,” said president and CEO Pierre Karl Péladeau in a news release.
“Through Videotron, Fizz and Freedom, we continued to expand our telecommunications coverage and service areas across Canada in 2025, strengthening our presence in several regions of the country,” he said.
“We take great pride in the high level of customer satisfaction we have maintained amid strong growth and expansion.”
Quebecor said its fourth-quarter profit amounted to 93 cents per share for the quarter ended Dec. 31, up from 76 cents per share a year earlier.
Revenue for the quarter totalled $1.55 billion, up from $1.50 billion in the last three months of 2024.
On an adjusted basis, Quebecor said it earned 99 cents per share in its latest quarter, up from an adjusted profit of 80 cents per share a year earlier.
Scotiabank analyst Maher Yaghi noted Quebecor reported flat revenues for the year as a whole, saying it demonstrates “the pressures all players in the industry are facing, even those like (Quebecor) that are gaining share.”
“We believe financials should slowly improve going forward, but the rate of growth will likely remain muted until we see general pricing sustainably trend higher,” he said in a note.
This report by The Canadian Press was first published Feb. 26, 2026.
Companies in this story: (TSX:QBR.B)
Sammy Hudes, The Canadian Press