(Toronto) Rogers Communications posted fourth-quarter profit of $405 million on Thursday, down about 9.8% from $449 million in the same period a year earlier, but its revenue rose.
Posted at 1:31 p.m.
The telecommunications company’s earnings per share were 80 cents for the quarter ended Dec. 31, down from 89 cents for the last three months of 2020.
Revenue for the most recent quarter reached $3.92 billion, up 6.5% from last year’s fourth quarter revenue of $3.68 billion. In particular, Rogers saw growth in its number of wireless subscribers and its media division got a boost from the return of advertising revenue during the live broadcast of sporting events.
On an adjusted basis, Rogers earned 96 cents per share, down from 99 cents per share in the same period a year earlier.
Analysts on average had expected an adjusted profit of 92 cents per share, according to forecasts compiled by financial data firm Refinitiv.
In its 2022 guidance, Rogers said it expects revenue growth of 4-6%, excluding any gains from the planned takeover of Shaw Communications, which the company still expects to close in the near future. first half of the year.