Monday, April 18, 2016

Rogers Communications has 2% growth in Q1, but media division struggles with ad climate

Rogers Communications reports that in the first quarter of 2016 that it had 2% growth overall, driven by 5% incrase in Wireless revenue. Operating revenue was $3.245 million, compared with $3.175 million in the same period in 2015. The company declared a 48 cent-per-share quarterly dividend.

In the media division, which includes some 50 consumer and trade magazines, but the results are combined in the company financials with the Toronto Blue Jays, Maple Leaf Sports and Entertainment and rights to the NHL, television properties (CITY,OMNI, The Shopping Channel and Sportsnet) and radio (55 stations across Canada). Operating revenue decreased 3%, "primarily as a result of lower advertising revenue" in conventional broadcast television, publishing, and radio, This was partly offset by higher sports related revenues. However, media operating losses for the quarter were 53%.

Media Financial Results

3 months ended March 31
(In millions of dollars,
except margins)
20162015% Chg

Operating revenue448464(3)
Operating expenses497496-

Adjusted operating loss(49)(32)53



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