Rogers Communications misses quarterly revenue estimates By Reuters

0 Comments





© Reuters. FILE PHOTO: An indication is pictured exterior a Rogers Communications retail retailer in Ottawa, Ontario, Canada July 20, 2017. REUTERS/Chris Wattie

(Reuters) – Canada’s Rogers (NYSE:) Communications Inc reported third-quarter revenue on Thursday that missed analysts’ estimates because the pandemic continues to dampen progress at its adverts and wi-fi companies.

Pandemic-related restrictions in July stored most individuals indoors, hurting the corporate given its reliance on skilled sports activities and wi-fi roaming as key revenue streams.

Rogers additionally faces further stress to develop its subscriber base amid stiff competitors from different telecom gamers wanting so as to add extra prospects on their new 5G networks.

During the quarter Rogers added 175,000 subscribers who pay a month-to-month invoice.

The firm’s complete revenue was C$3.67 billion ($2.97 billion) within the quarter ended Sept. 30, in contrast with estimates of C$3.68 billion, based on Refinitiv Data.

Rogers can also be in the course of a uncommon boardroom tussle within the Canadian company panorama, because it tries to spice up its place within the nation’s crowded telecoms market with a C$20 billion ($16.2 billion) takeover bid for smaller rival Shaw Communications (NYSE:) Inc.

The deal is attracting scrutiny from a number of authorities regulators over whether or not it is going to lower competitors.

Disclaimer: Fusion Media wish to remind you that the information contained on this web site just isn’t essentially real-time nor correct. All CFDs (shares, indexes, futures) and Forex costs should not supplied by exchanges however fairly by market makers, and so costs will not be correct and will differ from the precise market value, that means costs are indicative and never applicable for buying and selling functions. Therefore Fusion Media doesn`t bear any duty for any buying and selling losses you may incur because of utilizing this information.

Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or injury because of reliance on the knowledge together with information, quotes, charts and purchase/promote indicators contained inside this web site. Please be absolutely knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is without doubt one of the riskiest funding types doable.



Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post