Rogers Communications Q3 profit down from a year ago, revenue holds steady
Posted October 21, 2021 7:47 am.
Last Updated October 21, 2021 8:02 am.
TORONTO — Rogers Communications Inc. reported a third-quarter profit of $490 million, down from $512 million in the same quarter last year, as its revenue held steady.
The cable TV and wireless company says the profit amounted to 94 cents per diluted share for the quarter ended Sept. 30, down from $1.01 per diluted share a year ago.
Revenue totalled $3.67 billion, the same as the same quarter last year, as higher service revenue in its wireless and cable businesses were offset by lower media and wireless equipment revenue.
On an adjusted basis, Rogers says it earned $1.03 per diluted share, down from an adjusted profit of $1.08 per diluted share a year ago.
Analysts on average had expected an adjusted profit of $1.02 per share, according to financial markets data firm Refinitiv.
Rogers announced a deal earlier this year to buy Shaw Communications Inc. in a transaction valued at about $26 billion, including the assumption of $6 billion of Shaw debt.
This report by The Canadian Press was first published Oct. 21, 2021.
Companies in this story: (TSX:RCI.B, TSX:SJR.B)
The Canadian Press
