Rogers Communications Q4 profit down 7 per cent at $468 million, revenue stable


TORONTO — Rogers Communications Inc. reports it had a $468-million profit in the fourth quarter, down seven per cent from a year earlier and below analyst estimates.

Net income for the Toronto-based company amounted to 92 cents per share, down from 97 cents per share or $502 million in the fourth quarter of 2018.

Adjusted diluted earnings amounted to $1 per share while revenue was $3.95 billion, compared with $3.94 billion of revenue a year earlier.

Analysts had estimated $1.02 per share of adjusted earnings with $3.95 billion of revenue, according to financial markets data firm Refinitiv.

The Rogers wireless business accounted for $2.49 billion of revenue in the quarter, up one per cent from a year earlier, while adding 131,000 postpaid subscribers during the quarter.

This report by The Canadian Press was first published Jan. 22, 2020.

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

The Canadian Press