MONTREAL – Cogeco Inc. says it’s eyeing the launch of mobile service in Canada after beginning to offer wireless coverage to customers in the U.S. last quarter under its Breezeline Mobile brand.
But, the Montreal-based telecommunications company says details for the Canadian launch are still under wraps as it continues to negotiate access agreements with other companies to operate on their networks.
President and CEO Frédéric Perron told analysts on the company’s third-quarter earnings call Friday that Cogeco plans to offer wireless services as part of a bundle with wireline products in the hopes of increasing customer retention.
Cogeco reported a profit attributable to shareholders of $19.0 million for its third quarter, up from a loss of $34.5 million a year earlier. Revenue was $777.2 million, up from $767.6 million during the same quarter last year.
Perron says growth in Cogeco’s Canadian telecommunications business was driven by the ongoing expansion of its internet subscriber base.
The firm’s cable and internet subsidiary, Cogeco Communications Inc., reported profit attributable to shareholders of $70.4 million, down from $95.9 million a year earlier. Revenue for Cogeco Communications was $750.6 million, up from $741.8 million.
This report by The Canadian Press was first published July 12, 2024.
Companies in this story: (TSX:CGO, TSX:CCA)
