Rogers Communications has reported lower year-over-year profits in the first quarter, citing among other reasons higher restructuring costs and an increase in the adjusted operating loss of its traditional media business.
The Toronto-base telecommunications giant said net income in the three months ended March 31 was $248 million or 48 cents per share, down from $255 million or 50 cents per share in the same 2015 period.
Adjusted net income, which excludes certain one-time items, was $263 million or 51 cents per share, down from $275 million or 53 cents in the prior-year period.
Revenue was $3.245 billion, up two per cent from $3.175 billion, reflecting growth of five per cent in its wireless operations and two per cent in…
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