Tuesday, July 27, 2010

Rogers says publishing growth now positive as over all Q1 net income up 21% from last year

Rogers Communications has reported net income for the second quarter of 2010 of $451 million US or 78 cents per share. This was up 21% from the same period last year. Revenue was up 5% to $3.03 billion US. Revenue growth was 7% for the wireless network, 4% for cable and 8% for media. 
For the six months to date, media revenue, which includes consumer and trade magazine publishing, television, Sportsnet, radio, The Shopping Channel and sports franchises including the Toronto Blue Jays,  was $697 million, up $30 million from the same quarter a year ago. For the first two quarters, operating profit was $67 million, up $47 million from the comparable six months the year before, or about 10.6%/ The company reported: 
"Publishing is also beginning to experience positive growth in advertising revenues for the first time in several quarters." 
However, the consolidated financial statements do not break out magazine data.

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