Cogeco increased its revenue by six percent in the first quarter of 2023, Q1 financial results show.
The company, which operates both in Canada and the United States, made $762 million this quarter. Revenue on the Canadian telecom side increased by 4.8 percent, mainly due to its high-speed internet service.
“Cogeco Connexion, our Canadian telecommunications business unit, performed as expected,” Philippe Jetté, Cogeco Communication’s president and CEO, said.
“We continued to connect new homes to our network as part of the fibre-to-the-home network expansions in Québec, and we are starting to see the positive effects.”
However, the company says it expects revenue growth to reduce this year. A smaller customer base in the U.S., increasing competition and, to a lesser extent, economic conditions are expected to play a role.
Image credit: Shutterstock
Source: Cogeco Communications Inc.
