Rogers Communications Earnings: Here’s Why Shares are Up Now
Rogers Communications Inc. (NYSE:RCI) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.56%.
Rogers Communications Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 19.4% to $0.8 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Rose 2.32% to $3.03 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rogers Communications Inc. reported adjusted EPS income of $0.8 per share. By that measure, the company beat the mean analyst estimate of $0.75. It missed the average revenue estimate of $3.1 billion.
Quoting Management: “The record first quarter levels of both revenue and adjusted operating profit which Rogers reported represents a solid start to 2013,” said Nadir Mohamed, President and Chief Executive Officer of Rogers Communications Inc. “The positive operating trends which we achieved during 2012 are carrying into the new year as evidenced by the continued improvements in ARPU, data and Internet revenue, churn and margin profiles which we reported for the first quarter of 2013. This balanced growth across subscribers, revenue, margins and earnings reflects the combination of our superior asset mix, innovative product offerings, and successful ongoing efficiency gains, further supporting the 10% dividend increase we announced earlier in the quarter.”
Key Stats (on next page)…