Rogers Communications Inc. (TSX:RCI.B) says its third-quarter adjusted net income was up one per cent from last year, rising to $501 million — slightly ahead of expectations.
That profit amounted to 97 cents per share on a diluted basis, up from 96 cents or $495 million in the third quarter of 2012.
Analysts had projected Rogers would have 96 cents per share of adjusted earnings, according to Thomson Reuters estimates.
The telecom and media company's operating revenue grew two per cent to $3.22 billion from $3.18 billion in the third quarter of 2012.
Rogers reported Q3 earnings of $501 million, ahead of analyst expectations and up 1 per cent from the same time last year.
Rogers' overall revenue was slightly below estimates as its wireless sector experienced a two per cent decline from last year, dropping to $1.85 billion from $1.89 billion.
The company says the decline in wireless revenue was due to lower-priced roaming plans introduced this year, and if those roaming plans are removed from the equation, revenue in its wireless division actually increased by 1 per cent.
The company has Canada's largest base of wireless subscribers, operating the Rogers, Fido and Chatr brands.
The softness in wireless was partially offset by higher cable revenue, up four per cent to $873 million, and higher media revenue, up 12 per cent to $440 million.
Net income under standard accounting was $464 million, or 90 cents per share, essentially flat from a year earlier when it was $466 million, or 90 cents per share.
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