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