18:36:53 EDT Wed 24 Apr 2024
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or Name
USA
CA



Rogers Communications Inc
Symbol RCI
Shares Issued 402,282,878
Close 2014-10-23 C$ 42.80
Market Cap C$ 17,217,707,178
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Post/CP say Rogers boss looks to future NHL ad revenue

2014-10-24 09:44 ET - In the News

The Financial Post reports in its Friday edition Rogers Communications decreased third quarter profit by 28 per cent as the telco faced trouble attracting and holding subscribers amid rising costs. A Canadian Press dispatch to the Post says, hwoever, chief executive officer Guy Laurence said he expects advertisers and customers to line up for its NHL coverage. The company paid $5.2-billion for the Canadian rights to NHL games for 12 years. "Now the season has started, revenue will flow in advertising and we can also engage cable and wireless customers in a conversation that is beyond pure price," Mr. Laurence told analysts on a conference call. "This will take time ... but I do believe it will make a real difference." Rogers earned $332-million in net income, or 64 cents per share, down from $464-million, or 90 cents per share last year. Revenue increased 1 per cent to $3.25-billion. Wireless revenue grew 2 per cent to $1.88-billion, and Rogers added 17,000 new postpaid subscribers, a smaller amount than last year. Cable revenue slipped 1 per cent to $864-million as the company lost 30,000 TV subscribers and faced more pricing competition. Rogers has been losing market share to rivals Bell and Telus.

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