Rogers reports $371M Q3 profit, down from $490M a year ago, revenue up
By The Canadian Press on November 9, 2022.
TORONTO – Rogers Communications Inc. reported its third-quarter profit fell compared with a year ago as its revenue crept higher. The company says it earned $371 million or 71 cents per diluted share in net income for the quarter ended Sept. 30, down from $490 million or 94 cents per diluted share in the same quarter last year. Revenue totalled $3.74 billion, up two per cent from $3.67 billion in the third quarter of 2021. Rogers says excluding the impact of credits it gave customers due to a massive network outage in July, its total revenue would have increased six per cent compared with a year ago. On an adjusted basis, Rogers says it earned 84 cents per diluted share, down from an adjusted profit of $1.03 per diluted share in the same quarter last year. Analysts on average had expected a profit of 86 cents per share and nearly $3.73 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first published Nov. 9, 2022. Companies in this story: (TSX:RCI.B) 9-8
