TORONTO — Rogers Communications Inc. lost money in the first quarter, as usual, but Canada’s biggest cable television company said Thursday that things really are improving.
Toronto-based Rogers reported a loss of C$35.4 million ($25.5 million) for the three months ended Mar. 31, compared with a loss of $27 million a year earlier.
Carrying a debt of nearly $3.6 billion, giving rise to interest expense of $82 million in the quarter, Rogers isn’t expected to see profit anytime soon.
Revenue rose to $435 million from $410 million, although cable revenue was flat. Most of the growth came from a cellular telephone and paging subsidiary and Rogers’ broadcasting and publishing interests.
Rogers’ core cable TV operating margin — a measure stock market analysts have been monitoring carefully — climbed to 42% in the first quarter from 37% a year earlier, bringing it in line with the industry average.