Rogers Q2 profit up, revenue steady in wireless, internet but media declines

Rogers Q2 profit up, revenue steady in wireless, internet but media declines
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TORONTO — Rogers Communications Inc. says its second quarter profit was $591 million, up 10 per cent from the comparable period last year.

The Toronto-based wireless, internet, cable and media company says its revenue for the three months totalled $3.78 billion, up one per cent from $3.76 billion a year earlier.

Revenue from the wireless and cable divisions was up but revenue from the smaller media division was down three per cent — primarily due to the sale of its publishing business in April.

Rogers says its net earnings amounted to $1.15 per diluted share, up from $1.04 per share or $538 million in the second quarter of 2018.

After adjustments, the diluted profit was equal to $1.16 per share.

Analysts had estimated $1.17 per share of adjusted earnings with $3.87 billion of revenue, according to the financial markets data firm Refinitiv.

Companies in this story: (TSX:RCI.B)

The Canadian Press

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