Rogers Communications is reporting a 35 per cent increase in second-quarter net income, beating analyst estimates.
Its net income was $531 million or $1.03 per share, while adjusted profit was $1 per share.
Analysts had estimated Rogers (TSX:RCI.B) would have 90 cents per share of net income, or 93 cents per share after adjustments, according to Thomson Reuters.
OBJ360 (Sponsored)
Lanark County: One county, nine districts, limitless adventures
Enjoy unique outdoors experiences you can’t find anywhere else
Casey Court: Richcraft Rentals’ new community in Trailsedge, Orleans
Nestled in the heart of Trailsedge, Orleans, Casey Court emerges as the latest addition to Richcraft’s diverse portfolio of rental communities.
Revenue was $3.59 billion, up four per cent from last year’s second quarter and within analyst estimates.
It’s the first financial report issued by the Toronto-based telecommunications and media company since Joe Natale became its CEO in April.
Natale is a former CEO of Telus (TSX:T), where he had a reputation of building customer satisfaction and reducing turnover.
He said in today’s announcement that Rogers will improve customer service but also intensify a company-wide focus on controlling costs and improving profitability for shareholders.