11/09/2017 02:35 EST | Updated 11/09/2017 02:40 EST

Quebecor third-quarter profit boosted by wireless spectrum sale to Shaw

MONTREAL — Quebecor Inc. reported a $171.9-million profit attributable to shareholders for the third quarter, boosted by the sale of wireless spectrum licences to Shaw Communications Inc.

The media and telecommunications company (TSX:QBR.B) says the profit amounted to $1.42 per share for the quarter.

That compared with a loss attributable to shareholders of $8.3 million or seven cents per share a year ago.

Revenue totalled $1.03 billion, up from $998.3 million in the same period last year. 

Quebecor's Videotron business realized a $243.1-million gain in July on the sale of its seven wireless spectrum licences outside Quebec to Shaw for $430 million.

Adjusted income from continuing operating activities totalled $97.2 million or 81 cents per share, up from $83.2 million or 68 cents per share in the same period of 2016.