Rogers Communications Inc. saw its profit increase by 30 per cent to $511 million in its most recent quarter as it prepared to close a deal to buy Shaw Communications Inc.
The Toronto-based telecommunications company says its first-quarter profit compared with a net income of $392 million in the same period last year.
The profit amounted to diluted earnings per share of $1 for the period ended March 31, up from 77 cents during its previous first quarter.
On an adjusted basis, its net income totalled $553 million, a 20 per cent increase from $462 million during the prior first quarter, while its adjusted diluted earnings per share moved from 91 cents to $1.09 per share.
Revenue for the period ticked up six per cent to $3.8 million in the most recent quarter, up from $3.6 billion in the previous first quarter.
The period covers the last quarter before Rogers combines with Shaw, which it purchased in March 2021 for $26 billion, but only got the final government approval to move forward with earlier this month.
This report by The Canadian Press was first published April 26, 2023.
Companies in this story: (TSX:RCI.B)
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