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    RCI.B   CA7751092007

ROGERS COMMUNICATIONS INC.

(RCI.B)
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Rogers Communications 2Q Profit Rises as Business Growth Boosts Revenue

07/21/2021 | 05:41am EDT

By Adriano Marchese

Rogers Communications Inc. said Wednesday that profit rose in the second quarter as growth in all its business segments drove revenue up in the period.

The Canadian communications-and-media company said earnings per share were 60 Canadian cents (47 U.S. cents), up from C$0.54 in the comparable quarter a year earlier.

Net income was C$302 million, compared with C$279 million, it said.

Adjusted earnings were C$0.76 a share, meeting analyst consensus expectations for the quarter.

Sales rose to C$3.58 billion from C$3.16 billion, benefiting from growth in all its businesses, the company said.

In particular, cable revenue rose 5%, while wireless service revenue increased by 2%, the company said. Revenue at its media segment rose 84%, which Rogers said was primarily because of higher advertising and Toronto Blue Jays revenue as live sports resumed and pandemic-related restrictions began to ease.

The board declared a quarterly dividend of C$0.50 a share.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

07-21-21 0741ET

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Financials
Sales 2021 14 715 M 11 807 M 11 807 M
Net income 2021 1 668 M 1 338 M 1 338 M
Net Debt 2021 18 581 M 14 908 M 14 908 M
P/E ratio 2021 19,0x
Yield 2021 3,14%
Capitalization 32 261 M 25 870 M 25 884 M
EV / Sales 2021 3,46x
EV / Sales 2022 3,13x
Nbr of Employees 23 500
Free-Float 69,6%
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 63,68 CAD
Average target price 72,29 CAD
Spread / Average Target 13,5%
EPS Revisions
Managers and Directors
Joseph Natale President, CEO & Non-Independent Director
Anthony Staffieri Chief Financial Officer
Edward S. Rogers Chairman
Jorge Capelas Fernandes Chief Technology & Information Officer
David Robert Peterson Independent Director
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