Tuesday, April 24, 2012

Rogers results miss expectations

Rogers Communications Inc. saw declines in virtually every aspect of its business in the last quarter, as it reported a profit that fell far short of analyst expectations and raised questions about where the company can turn for growth in the future.The company said its consolidated revenue – which tracks the money coming into its cable, wireless and media divisions – decreased by 1 per cent compared to the same quarter a year ago. It reported a profit of $356-million, or 68 cents a share, on revenue of $2.9-billion. Analysts had expected it to earn 76 cents a share. The earnings miss underscores the difficulty the company faces in its two most important business segments – wireless and cable.

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