The telecom reported $512 million in net income for the third quarter, a 14 per cent drop year over year, and $3.67 billion in revenue, a two per cent drop. (The Logic)
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The telecom reported $512 million in net income for the third quarter, a 14 per cent drop year over year, and $3.67 billion in revenue, a two per cent drop. (The Logic)
Talking point: Rogers beat the consensus analyst expectation of revenue of $3.34 billion, sending its stock up 11.53 per cent at close. Part of the turnaround came from media revenue, which was up one per cent on the return of live professional-sports broadcasting. Rogers CEO Joe Natale said Thursday that competition between telecoms intensified in the third quarter. “We were not the aggressor, just to be absolutely clear, but [there] is a lot of competition in the flanker brand as the market kind of woke up again,” said Natale. Rogers also added 168,000 net new wireless subscribers in the quarter.
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