Rogers’ Q3 Earnings Show a Massive Boost in Profit Due to a Gain on MLSE Transaction
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Rogers Communications Inc. reported a Q3 profit of $5.8 billion, significantly up from $526 million last year, largely due to a $5 billion non-cash gain from acquiring BCE's stake in MLSE. Revenue grew 4% to $5.35 billion, but adjusted earnings per share fell 5%. Despite a 27% stock gain this year, Rogers has seen a 12% decline over five years. It offers a 3.7% dividend yield, making it attractive for income investors. Analysts suggest it remains a solid long-term investment at a reasonable price.
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