(Toronto) Rogers Communications saw its profits rise 30% to $511 million in the most recent quarter as it prepared to complete its acquisition of Shaw Communications.
The telecommunications giant pointed out that its first quarter profit compared to a net profit of 392 million for the same period last year.
The Toronto-based company’s earnings per share for the quarter ended March 31 were $1, up from 77 cents a year earlier.
On an adjusted basis, net profit reached 553 million, which was 20% higher than 462 million in the previous first quarter. Adjusted earnings per share fell 91 cents to $1.09.
Quarterly revenue rose 6% to $3.8 billion from $3.6 billion in the first quarter of last year.
The first quarter of the current fiscal year was the last before Rogers acquired Shaw. The $26 billion deal, which was announced in March 2021, only got its final government approval earlier in April.
Company in this story: (TSX: RCI.B)