April 21, 2014 - 9:51 AM
TORONTO - Rogers Communications Inc. (TSX:RCI.B) is expected to report that its revenues weakened in the first quarter amid sales pressure from wireless competitors.
The Toronto-based telecommunications and media company, which reports its financial results after stock markets close on Monday, has run into some challenges in its key divisions.
Rogers has been focused on strengthening the results of its wireless operations, as its competitors Bell (TSX:BCE) and Telus (TSX:T) grab a larger piece of the market. The company has also been pressured by lower prices for its cellphone roaming rates and monthly data-sharing plans.
In its cable operations, Rogers also has been grappling with subscribers cancelling their packages amid stiff competition.
Analysts expect the company to post revenue of $3.06 billion for the first quarter ended March 31, according to a general estimate compiled by Thomson Reuters. Earnings per share is estimated at 70 cents.
Chief executive Guy Laurence has expressed his recent dissatisfaction with the financial results of the company.
Laurence, who took the position in December, said earlier this year that the entire industry faces moderating growth and regulatory uncertainty.
Shares of Rogers have been volatile. On Monday near midday, Rogers shares were ahead two cents at $44.29 on the Toronto Stock Exchange. Their 2014 intraday high is $48.44 set on Jan. 14 and the low so far this year was $41 set on Feb. 20.
News from © The Canadian Press, 2014