By Waverly Colville
Rogers Communications (RCI) reported higher net income in the second quarter compared to a year earlier as revenue from its wireless services business rose.
The Canadian company's net income rose 1.9% to C$538 million ($406 million) in the quarter. That missed analysts polled by FactSet's estimate of C$540 million. The adjusted diluted earnings per share were C$1.07 a share, beating the C$1.05 estimate from analysts polled by FactSet.
Revenue rose 3.9% to C$3.76 billion, with wireless services revenue increasing 5% and cable revenue increasing 2%. However, media revenue fell 5% on lower revenue of the Toronto Blue Jays professional baseball team, which the company owns.
Shares of Rogers closed at C$67.06 on Thursday. The stock is up 4.7% so far this year.
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