Quebecor Inc Shs -B- Subord.Voting

QBR.B: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 84.00	Vdzqng	Fxmvvlvg

Quebecor Earnings: Wireless Performance Boosted by Freedom Mobile; Status Quo Everywhere Else

Matthew Dolgin

Nov 9, 2023

Quebecor had a stronger quarter of wireless subscriber additions than we anticipated in the second quarter since it acquired Freedom Mobile. The rest of Quebecor’s business mirrored recent trends, with a stagnant internet business and all other businesses slowly declining. However, wireless is easily the most important business line, and we expect both wireless and internet subscriber growth to accelerate as Quebecor continues to find its footing outside Quebec. We’re raising our fair value estimate to CAD 40 from CAD 38.

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