Rogers Q1 revenue and earnings rise
Cable and wireless phone revenue offset weakness in the media division as the conglomerate completed the rebranding of City Montreal.
Rogers Communications on Monday posted a rise in first-quarter earnings and revenue as growth in its wireless phone and cable TV businesses offset a soft media business.
Toronto-based Rogers saw earnings for the three months to March 31 rise 15% to $414 million, on overall revenue rising 3% to $3.02 billion.
Q1 wireless phone revenue was up 3% to $1.76 billion, while the cable division grew its revenue 4% to $861 million.
The media division saw its revenue fall 4% to $341 million.
During the latest quarter, Sportsnet inked a 10 -ear partnership extension with the Vancouver Canucks, and Rogers Media completed the purchase of the CJNT-TV Montreal and its rebranding as City Montreal.
Rogers said the latest quarter exposed “residual impacts” from the 2012 NHL lockout, as it dealt overall with a a soft advertising market.
From Playback Daily