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Recap: Rogers Communications Q2 Earnings

Benzinga Insights
·1 min read

Shares of Rogers Communications (NYSE:RCI) decreased 0.1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 51.14% over the past year to $0.43, which missed the estimate of $0.60.

Revenue of $2,276,000,000 declined by 20.78% from the same period last year, which missed the estimate of $2,760,000,000.

Guidance

Rogers Communications hasn't issued any earnings guidance for the time being.

Rogers Communications hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Jul 22, 2020

View more earnings on RCI

Time: 08:00 AM

ET Webcast URL: https://investors.rogers.com/

Technicals

Company's 52-week high was at $54.02

52-week low: $32.20

Price action over last quarter: Up 1.77%

Company Profile

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for over 60% of the company's total sales in 2019 and has increasingly provided a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about one fourth of total sales, offers home Internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays. Rogers' significant exposure to sports also includes ownership stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.

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