12:59:52 EDT Thu 28 Mar 2024
Enter Symbol
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
Recent Sedar Documents

FP says for now, Rogers boss gets benefit of the doubt

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

The Financial Post reports in its Friday edition 10 months into Guy Laurence's fledgling tutelage at Rogers Communications and the momentum has not shifted in the company's favour. The Post's Theresa Tedesco writes Rogers continues to lose market share to rivals Bell and Telus. In the third quarter ended Sept. 30, overall sales at Rogers grew a paltry 1 per cent, while profit fell 28 per cent to $332-million, compared with net income of $464-million in the same quarter last year. Revenue was up slightly to $3.25-billion from $3.22-billion in the third quarter of 2013. All in all, the results missed analyst estimates or barely met them. The recent quarter is consistent with the previous two on Mr. Laurence's watch. In the first quarter, the new CEO expressed dismay over a 20-per-cent drop in profit and a decline in sales. In the second quarter, profit dipped 24 per cent as revenue slowed due to weaker subscriber numbers. While admitting Rogers had "slipped in terms of our growth rate relative to our peers," Mr. Laurence insisted the company would improve. His repeated mantra is a focus on long-term results, not meeting quarterly targets dictated by analysts and investors. For now, he is allowed that cover.

© 2024 Canjex Publishing Ltd. All rights reserved.