01/25/2018 02:28 EST | Updated 01/25/2018 02:40 EST

Rogers Communications reports $419M Q4 profit, wireless business boosts revenue

TORONTO — Rogers Communications Inc. topped expectations as it reported a fourth-quarter profit of $419 million and a three per cent gain in revenue compared with a year ago.

The company says the profit amounted to 81 cents per share for the quarter ended Dec. 31.

That compared with a loss of $9 million or two cents per share a year ago when it was hit by a large one-time charge.

On an adjusted basis, Rogers said it earned $455 million or 88 cents per share in its latest quarter compared with an adjusted profit of $382 million or 74 cents per share a year ago.

Revenue totalled $3.63 billion, up from $3.51 billion, boosted by improved wireless revenue due to subscriber growth and a greater number of customers on higher-rate plans.

Analysts on average had expected $3.64 billion in revenue for the quarter and an adjusted profit of 86 cents per share, according to Thomson Reuters.

Companies in this story: (TSX:RCI.B)

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