Rogers Communications Profit Misses Estimates

(RTTNews) - Canadian communications and media company Rogers Communications Inc (RCI, RCI_A.TO, RCI_B.TO) on Monday reported first-quarter net earnings of C$255 million or C$0.48 per share compared with C$307 million or C$0.57 per share last year.

The company said results were hurt mainly by higher depreciation and amortization costs as well as lower operating margin.

Excluding items, adjusted earnings for the quarter were C$0.53 per share compared with C$0.66 per share a year ago.

Revenues for the quarter were up 5% at C$3.18 billion compared with C$3.02 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of C$0.63 per share on revenues of C$3.16 billion for the quarter. Analysts' estimates typically exclude special items.

Adjusted operating margin for the quarter fell to 35.4% from 38.4% last year.