Rogers Communications (RCI - Free Report) reported first-quarter 2020 adjusted earnings of 53 cents per share that missed the Zacks Consensus Estimate by 8.6%.
Total revenues of $2.54 billion also missed the consensus mark by 1.7%.
Adjusted earnings decreased 9% year over year to C$0.71 per share. Total revenues decreased 4.8% year over year to C$3.4 billion due to decline in Wireless equipment revenues as a result of lower subscriber activity attributed to the coronavirus (COVID-19) outbreak.
Notably, first-quarter 2020 results were reported per IFRS 16.
Wireless Details
Wireless (60.8% of total revenues) decreased 1.2% from the year-ago quarter to C$2.49 billion.
On Jan 15, Rogers announced the rollout of Canada’s first 5G network in downtown Vancouver, Toronto, Ottawa and Montreal.
The company also became the exclusive Canadian member of the global 5G Future Forum, a 5G and mobile edge computing forum that includes Verizon (VZ - Free Report) , Vodafone, Telstra, KT and America Movil.
Rogers Communication, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Rogers Communications (RCI - Free Report) reported first-quarter 2020 adjusted earnings of 53 cents per share that missed the Zacks Consensus Estimate by 8.6%.
Total revenues of $2.54 billion also missed the consensus mark by 1.7%.
Adjusted earnings decreased 9% year over year to C$0.71 per share. Total revenues decreased 4.8% year over year to C$3.4 billion due to decline in Wireless equipment revenues as a result of lower subscriber activity attributed to the coronavirus (COVID-19) outbreak.
Notably, first-quarter 2020 results were reported per IFRS 16.
Wireless Details
Wireless (60.8% of total revenues) decreased 1.2% from the year-ago quarter to C$2.49 billion.
On Jan 15, Rogers announced the rollout of Canada’s first 5G network in downtown Vancouver, Toronto, Ottawa and Montreal.
The company also became the exclusive Canadian member of the global 5G Future Forum, a 5G and mobile edge computing forum that includes Verizon (VZ - Free Report) , Vodafone, Telstra, KT and America Movil.
Rogers Communication, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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