The Globe and Mail reports in its Friday edition that Quebecor posted higher revenue, free cash flow and new mobile subscribers in its fourth quarter, beating analyst expectations. The Globe's Irene Galea writes that Quebecor aims to gain telecom market share from its larger rivals, but it saw losses in its media and legacy telecom businesses. The Montreal telco posted revenue of $1.5-billion, up 3 per cent year-over-year and slightly above analyst estimates. Free cash flow was $369-million, beating consensus of $153-million and up 21 per cent from the same period last year. This included a $67-million increase in share-based compensation owing to the company's higher stock price -- up 68 per cent year-over-year -- and a one-time retroactive adjustment of $44-million from television royalties. RBC analyst Drew McReynolds called the results as "a modest positive for shares." Desjardins analyst Jérome Dubreuil called it a "dominant" quarter in wireless for the company, and said he expects a "clear positive reaction" to Quebecor's share price. But that growth was tempered by the headwinds faced by the industry as a whole: slower population growth, competition on phone plan prices and lower advertising revenue.