TORONTO — Rogers Communications Inc. fell short of expectations as its first-quarter profit and revenue declined compared with a year ago.
The wireless, cable and internet company says it earned $391 million or 76 cents per share for the quarter ended March 31.
That compared with a profit of $425 million or 80 cents per share a year ago when Rogers received a special payment from Major League Baseball.
Revenue totalled nearly $3.59 billion, down from $3.63 billion in the same quarter last year.
On an adjusted basis, Rogers says it earned $405 million or 78 cents per share for the quarter, down from an adjusted profit of $477 million or 90 cents per share a year ago.
Analysts on average had expected a profit of 94 cents per share and revenue of $3.72 billion, according to Thomson Reuters Eikon.
Companies in this story: (TSX:RCI.B)
The Canadian Press