Rogers makes some more in 2nd quarter, but spends more, too

Rogers Communications reports for its 2nd quarter a 6% revenue increase for media, largely attributed to Sportsnet and the success of the Toronto Blue Jays. But, according to a company release, there was a 7% increase in costs in the quarter in the media division (which includes magazines), compared with the same quarter last year, largely due to lower advertising across radio, publishing and broadcast TV. Operating expenses were attributed to highers sports-related costs, mitigated by cost savings from job cuts in conventional broadcast TV and radio.

Year to date, the 29% decrease in revenue were primarily a result of lower conventional advertising revenue in the first quarter of 2016. [Click to enlarge]