Rogers beats the street in Q3
Posted Oct 24, 2013 08:14:05 AM.
This article is more than 5 years old.
Rogers Communications Inc. says its third-quarter adjusted net income was up one per cent from last year, rising to $501 million, slightly ahead of expectations.
That profit amounted to 97 cents per share on a diluted basis, up from 96 cents or $495 million in the third quarter of 2012.
Analysts had projected Rogers would have 96 cents per share of adjusted earnings, according to Thomson Reuters estimates.
The telecom and media company’s operating revenue grew two per cent to $3.22 billion from $3.18 billion in the third quarter of 2012.
Rogers’ overall revenue was slightly below estimates as its wireless sector experienced a two per cent decline from last year, dropping to $1.85 billion from $1.89 billion.
The company has Canada’s largest base of wireless subscribers, operating the Rogers, Fido and Chatr brands.
Rogers is the parent company of 570 News.
