FX.co ★ Rogers Communications Q1 Net Income Declines

Rogers Communications Inc. recently released its first-quarter financial report, which shows a significant decline in net income - falling from C$511 million the previous year to C$256 million. In terms of earnings per share, the figure saw a reduction from C$1.00 to C$0.46. However, when adjusted, the earnings per share were C$0.99, slightly down from last year's C$1.09. A group of 14 analyst surveyed by Thomson Reuters estimated the company's profit per share to be C$0.98 for the quarter, albeit, this estimation typically excludes special items.

On a more upbeat note, Rogers Communications Inc. saw an increase in its total revenue, a rise of 28% from the previous year, totalling C$4.90 billion. Further, total service revenue also rose by 31% to C$4.36 billion. This increase was slightly less than what analysts on average had estimated - a total revenue of C$4.92 billion.