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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Rogers Comm. (RCI) Beats on Q3 Earnings, Misses Revenues

Zacks Equity Research
Updated

Rogers Communications Inc. RCI is the largest integrated telecom operator in Canada.

Rogers Communications continues to remain the first wireless operator in Canada to offer Internet of Things (IoT) as a service to business enterprises. End-to-End Incident Management, Farm & Food Monitoring and Level Monitoring are the three IoT services that the wireless carrier currently offers. We are also bullish about the company’s wireless growth from the roll out of 700 MHz LTE lower block spectrum which is expected to provide better in-building penetration and rural LTE coverage. We further believe that the company’s plans to dump its Internet Protocol TV (IPTV) platform and adopt Comcast Corp’s cloud-based X1 video platform have helped it witness growth in its cable segment in the last-reported quarter.

However, intense wireless and cable TV industry competition, continuous softness in the advertising market and loss of viewers to video streaming service providers act as potent headwinds for the company.

Zacks Rank:  Rogers Communications currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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We have highlighted some of the key stats from this just-revealed announcement below:

Earnings:The Company beats third quarter earnings. Our consensus called for an adjusted EPS (earnings per share) of 79 cents while the company reported adjusted EPS of 81 cents.

Revenue:  Rogers Communications reported total revenue of $2,856 million lagging the Zacks Consensus Estimate of $2,897 million.

Rogers Communication, Inc. Price and EPS Surprise

 

Rogers Communication, Inc. Price and EPS Surprise | Rogers Communication, Inc. Quote

Key States to Note:  In the third quarter, Rogers Communications added 375,000 wireless postpaid connections, while churn went down from 1.26% to 1.16% year over year.

Check back later for our full write up on this Rogers Communications earnings report later! 

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Rogers Communication, Inc. (RCI) : Free Stock Analysis Report
 
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Zacks Investment Research