Rogers Communications Q3 Earnings Beat Expectations Amid Ongoing Network Investment Plans

Rogers Communication, Inc. (NYSE:RCI) shares are trading lower after the company reported third-quarter results.

In U.S. dollars, adjusted earnings per share of $1.04 beat the analyst consensus estimate of 98 cents.

In Canadian dollars, the earnings per share were C$1.42, up 12% year over year. Quarterly sales totaled C$5.129 billion, up 1% year over year.

Wireless service revenue grew by 2% this quarter, mainly due to an increase in mobile phone subscribers over the past year.

Cable revenue fell by 1% this quarter but showed improvement from previous quarters, impacted by competitive promotions ...