Montreal – November 05, 2026 -- Quebecor Inc. raised third-quarter 2026 adjusted EBITDA by $78.6 million (12.5%) to $706.7 million, while mobile telephony added a net 136,700 subscriber connections, the largest quarterly gain since the service launched in 2010. Revenues rose $49.2 million (3.5%) to $1.45 billion, and adjusted cash flows from operations climbed $67.3 million (14.6%) to $529.7 million.
Telecommunications segment lifts revenue 4.2% on mobile growth
Telecommunications revenues grew $51.4 million (4.2%). Mobile telephony service revenues rose $43.1 million (9.6%) and Internet access revenues rose $9.3 million (3.0%). Segment adjusted EBITDA increased $45.0 million (7.5%), and adjusted cash flows from operations gained $34.7 million (7.9%).
The 136,700 net additions represent 3.0% growth in connections. Videotron, Freedom and Fizz all contributed. Mobile ARPU rose $1.03 (2.9%), the fourth consecutive quarterly increase and a sequential improvement.
Freedom and Videotron widen network coverage
On July 24, Freedom made 5G+ access available at no extra cost on all plans for customers with compatible devices and SIM cards in eligible areas. Its 5G and 5G+ rollout in Ontario, Alberta and British Columbia improved connectivity for more than 500,000 additional Canadians. On October 1, Videotron extended its wireless subscription area to communities in Abitibi-Témiscamingue, Nord-du-Québec, Saguenay-Lac-Saint-Jean and Bas-Saint-Laurent, reaching more than 25,000 residents.
Media EBITDA jumps 69.7% on cost cuts and tax credit
Media segment adjusted EBITDA increased $16.3 million (69.7%), on revenues up $2.1 million (1.4%). TVA Group reported adjusted EBITDA of $32.8 million, up $14.3 million. Drivers were lower content costs, higher TVA Sports subscription revenues from TVA Sports Direct and new carriage rate agreements, and the estimated benefit of a new tax credit for Québec news media organizations. Management said it remains cautious given pressure on advertising revenues.
TVA Group led the Québec television market with a 43.5% share, up 2.3 points. TVA Network held 23.1% (up 1.0 point), and LCN led specialty channels with 9.2% (up 1.2 points). The Sports and Entertainment segment saw adjusted EBITDA fall $0.9 million (6.0%) and revenues drop $3.8 million.
Quebecor secures 12-year NHL French-language rights from Rogers
On September 3, Quebecor signed a 12-year sublicensing agreement with Rogers Communications for French-language NHL broadcast rights, running from the 2026-2027 season through 2037-2038. TVA Sports keeps its role as an official French-language NHL broadcaster, and the illico+ platform joins the distribution mix.
Net income rises 25.5% as leverage falls to 2.69x
Net income attributable to shareholders reached $296.4 million ($1.33 per basic share), up $60.3 million. Adjusted net income rose 21.7% to $294.1 million ($1.32 per basic share). Results also benefited from a $31.5 million favourable impact from stock-based compensation.
Consolidated net debt fell by more than $220 million in the quarter. The net debt leverage ratio dropped to 2.69x at September 30, which Quebecor says is the lowest among Canada's major telecommunications providers. Videotron repaid $200.0 million of the third tranche of its term credit facility during the quarter and a further $100.0 million on October 6, cutting the balance from $400.0 million to $100.0 million.