Rogers Communications misses Wall Street quarterly estimates
Reuters
Published Jan 22, 2020 08:04
(Reuters) - Canada's Rogers Communications Inc (TO:RCIb) missed Wall Street estimates for its fourth-quarter core earnings as more people continued to shift to its unlimited data plan, leading to a decrease in its revenues from charging customers for additional data usage.
The company faces stiff competition from rivals BCE Corp (TO:BCE) and Telus Corp (TO:T), especially on the pricing of its wireless plans and country wide 5G network roll-out.
Rogers, which started its 5G infrastructure roll-out last week, generated average revenue per user of C$55.26 from its wireless services, compared with C$55.91, a year earlier.
The company's net income fell to C$468 million or 92 Canadian cents per share in the quarter ended Dec. 31, 2019 from C$502 million, or 97 Canadian cents per share, a year earlier.
On an adjusted basis, it earned C$1 per share, missing analysts' average estimate of C$1.02, according to IBES data from Refinitiv.
The Toronto-based company's total revenue rose marginally to C$3.95 billion, just shy of analysts' estimates of C$3.96 billion.
The telecom operator expects full-year revenue for 2020 to be in a range of 2% rise to 2% fall.
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Written By: Reuters
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