Rogers Q2 net income rises 35%, beats analyst estimate

Rogers
Rogers

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.

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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.

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