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Rogers Communication posts 1Q profit, results miss Wall Street forecasts

TORONTO – TORONTO (AP) _ Rogers Communication Inc. (RCI) on Monday reported first-quarter net income of $180.8 million.

The Toronto-based company said it had profit of 35 cents per share. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The communications and media company posted revenue of $2.37 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $2.5 billion.

Rogers Communication shares have risen 14 per cent since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.15, a rise of 14 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RCI at http://www.zacks.com/ap/RCI

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Keywords: Rogers Communication, Earnings Report