Rogers profits rise to $478 million in second quarter, revenue flat

TORONTO – Rogers Communications Inc. (TSX:RCI.B) says profits increased in the second quarter, beating analyst expectations.

The company posted adjusted net income of $478 million, or 91 cents per share, which is five cents higher than analysts expected, according to a survey by Thomson Reuters.

The results are also up from a profit of $469 million, or 85 cents per share, a year ago.

Revenue was $3.11 billion, up slightly from $3.1 billion in the comparable period, but below expectations of $3.14 billion.

Toronto-based Rogers is Canada’s largest cable TV operator and wireless operator and is a major magazine publisher, TV and radio broadcaster and owner of the Toronto Blue Jays.

It also owns a slate of print magazines including Maclean’s and Chatelaine.