Rogers reports first-quarter profit and sales down, falls short of expectations

Rogers reports first-quarter profit and sales down, falls short of expectations
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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

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