Quebecor's shares surged to their highest level in 10 months Thursday after it reported that second-quarter profit soared by more than a third as the strong performance of its telecommunications segment more than offset continued advertising revenue declines of its newspapers. The company's shares rose 9.33 per cent, gaining $1.82 to $21.54 in early afternoon trading on the Toronto Stock Exchange. That's the highest level since last October. The Montreal-based media and telecommunications company reported net income of $76.8 million or $1.19 per share for the quarter ended June 30, up 33.6 per cent from year-earlier profits of $57.5 million or 90 cents per share.
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