Rogers Communications Q4 Adj. Earnings Beat View, But Revenues Miss - Quick Facts

(RTTNews) - Canadian technology and media company Rogers Communications Inc. (RCI, RCI.TO) said Thursday its net income for the fourth quarter declined to C$449 million or C$0.89 per share from C$468 million or C$0.92 per share in the year-ago period.

Adjusted earnings for the quarter were C$0.99 per share, compared to C$1.00 per share last year.

Total revenue for the quarter declined 7 percent to C$3.68 billion from C$3.95 billion last year, largely driven by an 8 percent decrease in Wireless service revenue.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$0.97 per share for the quarter on revenues of C$3.79 billion. Analysts' estimates typically exclude special items.

Looking ahead, Rogers said that as it is not possible currently to reliably estimate its financial results, it will not provide its financial outlook for fiscal 2021.