Rogers reports $594 million net income, boosts full-year outlook


Rogers Communications Inc. says it had a net income of $594 million in the third quarter for a 17 per cent increase from the same quarter last year as it boosted its full-year outlook.

The telecom company says the earnings per share for the quarter that ended Sept. 30 worked out to $1.15 per diluted share, up from 98 cents per share last year.

Adjusted net income hit $625 million, or $1.21 per share, which beat analyst expectations of $601 million and $1.17 per share according to Thomson Reuters Eikon.

Rogers has boosted its growth range by two percentage points for cash flow and adjusted earnings before taxes and other charges, while sticking to its earlier revenue growth and spending guidances.

The company says it saw three per cent total revenue growth to $3.77 billion, driven by a five per cent increase in its wireless service segment.

Cable revenue grew by one per cent, while media revenue was down five per cent because of lower revenue from the Toronto Blue Jays.

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

The Canadian Press