Losses mount but revenue exceeds forecasts as Shaw integration pays off
- Rogers Communications reports a loss of $71.8 million in Q3
- Revenue beats expectations due to Shaw integration
- Adjusted earnings rise to $1.27 per share
- Total revenue increases to $5.09 billion
- Mobile phone and internet additions of 279,000 in the period
Rogers Communications, the Canadian telecom giant, reported a loss of $71.8 million in the third quarter due to financing and restructuring costs. However, the company’s revenue surpassed expectations, thanks to the successful integration of Shaw Communications. Total revenue rose to $5.09 billion, beating analyst forecasts of $5.07 billion. Adjusted earnings also increased to $1.27 per share, higher than the expected $1.11 per share. Rogers added 279,000 mobile phone and internet connections during the period, with 261,000 being new mobile phone connections. The company’s CEO, Tony Staffieri, stated that the integration process with Shaw is ahead of schedule in terms of synergy targets and deleveraging plans.
Factuality Level: 8
Factuality Justification: The article provides factual information about Rogers Communications’ financial performance in the third quarter, including the loss incurred, revenue figures, and the reasons behind the loss. It also mentions the integration of Shaw into the business and provides details about mobile phone and internet additions. The information is supported by the company’s official statements and analyst expectations.
Noise Level: 4
Noise Justification: The article provides a brief overview of Rogers Communications’ financial performance in the third quarter, including the reasons for the loss and the integration of Shaw. It mentions the increase in depreciation and amortization, finance and restructuring costs, and a loss on obligation to purchase. It also highlights the adjusted earnings and total revenue, which exceeded analyst expectations. The article briefly mentions the addition of mobile phone and internet connections and the progress of the integration process. However, it lacks in-depth analysis, evidence, and actionable insights. It stays on topic and does not dive into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the telecommunications industry and the Canadian stock market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not mention any extreme events or their impacts.
Public Companies: Rogers Communications (N/A), Shaw Communications (N/A)
Key People: Adriano Marchese (N/A), Tony Staffieri (Chief Executive)
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