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Business 5:54pm - 5,009 views
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 would have 90 cents per share of net income, or 93 cents per share after adjustments, according to Thomson Reuters.
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, 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.
