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Rogers Communications +1.4% as wireless service powers profit beat

Published 07/20/2017, 10:46 AM
Updated 07/20/2017, 10:46 AM
© Reuters.  Rogers Communications +1.4% as wireless service powers profit beat
  • Rogers Communications (NYSE:RCI) is up 1.4% in U.S. trading after Q2 earnings beat expectations after a healthy gain in profits.
  • Wireless service revenue gains of 8% drove the overall 4% increase in revenue, thanks to a bigger subscriber base and a move to higher-value plans. Meanwhile, the cable business was stable as continued Internet growth offset drops in TV and phone.
  • Adjusted operating profit rose 5%, and adjusted net income was up 20%.
  • Revenue by segment: Wireless, C$2.048B (up 6%); Cable, C$870M (flat); Business Solutions, C$96M (down 1%); Media, C$637M (up 4%).
  • Cash flow from operations was C$823M, and free cash flow was C$626M. Debt leverage ratio improved to 3.0 from 3.1 a year ago.
  • Press Release
  • Now read: Rogers Communications Inc. 2017 Q2 - Results - Earnings Call Slides


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