“It’s true,” CFO Glenn Brandt told analysts on the company’s first-quarter earnings call on Wednesday. “We are looking at raising a billion dollars in asset sales, predominantly real estate.”
The push to sell real estate assets comes as Rogers reported reaching its target of $1 billion in savings after its takeover of Shaw Communications — 12 months ahead of schedule. Still, the company's chief executive told analysts he's on the hunt for more. There are still some key integration projects that need to be completed alongside taking on opportunities with vendors — all improving efficiency, he told analysts.
Rogers reported a first-quarter profit of $256 million, or 46 cents per diluted share, down from $511 million a year ago or $1 per diluted share. The company’s mobile phone average monthly revenue per user was $58.06, up from $57.26 in the first quarter of last year.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Proxy advisory firms recommend against reappointing Chairman Edward Rogers at Rogers CommunicationsProxy advisory firms ISS and Glass Lewis have recommended investors in Canada's Rogers Communications to vote against reappointing Chairman Edward Rogers due to lack of enough women on the company's board.
Source: SaltWire Network - 🏆 45. / 63 Read more »
Canadian Mobile Carriers Handle Increased Wireless Traffic During Solar EclipseCanada's largest mobile carriers, BCE Inc. and Rogers Communications Inc., report that their networks were able to handle the increased wireless traffic during the total solar eclipse. BCE Inc. saw five times the regular volume of traffic in various hot-spot regions, while Rogers Communications Inc. processed five times more 5G data compared to a benchmark day.
Source: SooToday - 🏆 8. / 85 Read more »
Canada Telecom Shares Drop on BMO Notes on Rogers, BCE, QuebecorBMO Capital Markets analyst Tim Casey slashed his price target on Rogers Communications Inc. and downgraded BCE Inc. and Quebecor Inc., causing share prices to fall.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Rogers Communications reports Q1 profit down from year ago, revenue upTORONTO — Rogers Communications Inc. reported a first-quarter profit $256 million, down from $511 million a year ago, as it faced higher depreciation and amortization costs related to its acquisition of Shaw Communications and higher finance costs.
Source: SooToday - 🏆 8. / 85 Read more »
Rogers Communications reports Q1 profit down from year ago, revenue upTORONTO — Rogers Communications Inc. reported a first-quarter profit $256 million, down from $511 million a year ago, as it faced higher depreciation and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Rogers Communications reports Q2 profit down from year ago, revenue upTORONTO — Rogers Communications Inc. reported a first-quarter profit $256 million, down from $511 million a year ago, as it faced higher depreciation and amortization costs related to its acquisition of Shaw Communications and higher finance costs.
Source: SooToday - 🏆 8. / 85 Read more »