Rogers Media Revenues Fall In Q3
October 27, 2009 at 5:54 AM (PT)
ROGERS COMMUNICATIONS third-quarter revenues for its Media division, which includes the company's radio stations and cable television networks as well as publishing, fell 6% to C$364 million. The division's operating profit fell 57% to $23 million.
The declines were blamed on falling advertising revenue and a drop in retail revenue from THE SHOPPING CHANNEL, partially offset by gains at ROGERS SPORTSNET. The company noted that "the rate of year-over-year decline in advertising sales began to moderate for the first time in several quarters."
The company's overall revenues rose 2% to C$3.036 billion, with net income up 9% to C$505 million (82 cents/share).