Rogers Communication: 3Q Earnings Snapshot
TORONTO (AP) _ Rogers Communication Inc. (RCI) on Wednesday reported third-quarter net income of $449.2 million.
The Toronto-based company said it had net income of 87 cents per share. Earnings, adjusted for restructuring costs, were 91 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The communications and media company posted revenue of $2.84 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $2.92 billion.
Rogers Communication shares have dropped 1% since the beginning of the year. The stock has fallen nearly 2% in the last 12 months.