Rogers Comm. (RCI) Beats on Q2 Earnings, Misses Revenues
Rogers Communications Inc. RCI is the largest integrated telecom operator in Canada.
Rogers Communications continues to remain the first wireless operator in Canada to offer Internet of Things (IoT) as a service to business enterprises. End-to-End Incident Management, Farm & Food Monitoring and Level Monitoring are the three IoT services that the wireless carrier currently offers.
However, intense wireless and cable TV industry competition, continuous softness in the advertising market and loss of viewers to video streaming service providers act as potent headwinds for the company. The accumulating debt and decreasing cash flow may also dent the company’s credit ratings going forward. Discontinuation of Shomi video streaming services and dumping of IPTV act against the company’s growth prospects.
Zacks Rank: Rogers Communications currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The Company beats second quarter earnings. Our consensus called for an adjusted EPS (earnings per share) of 71 cents while the company reported adjusted EPS of 74 cents.
Revenue: Rogers Communications reported total revenue of $2,670 million lagging the Zacks Consensus Estimate of $2,762.8 million.
Rogers Communication, Inc. Price and EPS Surprise
Rogers Communication, Inc. Price and EPS Surprise | Rogers Communication, Inc. Quote
Key States to Note: In the second quarter, Rogers Communications added 93,000 wireless postpaid connections,while churn went down from 1.14% to 1.05% year over year. Wireless service revenue went up 8% and adjusted operating profit rose by 9%.
Check back later for our full write up on this Rogers Communications earnings report later!
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