Rogers posts profits in all divisions
Several new acquisitions and an uptick in business across all operating divisions led to a 43% revenue jump and a 1.7% increase in net revs for the latest quarter at Toronto-based Rogers Communications.
Profit at Canada’s largest cabler, which also has wireless phone, media and newly launched cable phone divisions, was C$48.9 million ($41.6 million) for the third quarter ended Sept. 30 on revenue of $1.74 billion.
Meanwhile, an increase in ad revs helped Toronto broadcaster Corus Entertainment cap off a “satisfying” year, said company brass, as the Toronto-based company, whose operations include conventional and specialty TV and radio as well as kidvid producer Nelvana, posted consolidated revenue of $581 million, up 2% from the previous year. Net profit for the year was $60.5 million, compared to a loss of $19.7 million.
Revenue for the fourth quarter was up 8% to $149 million, and net income was $8.3 million, down from $12 million due to “unusual costs,” including new rights tariffs on radio.