Rogers Communications reports $526M third-quarter profit, up from loss a year ago

Rebecca Teltscher, portfolio manager of Newhaven Asset Management, joins BNN Bloomberg to discuss BCE selling MLSE stake to Rogers for $4.7B. Rogers Communications Inc. reported a third-quarter profit of $526 million compared with a loss a year ago.The company said the profit amounted to 98 cents per diluted share for the quarter ended Sept. 30.The result compared with a loss of $99 million or 20 cents per diluted share in the same quarter last year.Revenue for the quarter totalled $5.13 billion, up from $5.09 billion a year earlier.On an adjusted basis, Rogers says it earned $1.42 per diluted share in its latest quarter, up from an adjusted profit of $1.27 per diluted share a year ago.Analysts on average had expected a profit of $1.36 per share, according to LSEG Data & Analytics.“We delivered strong market share, record margins in cable and wireless, and we are on track to deliver our full-year targets,” Rogers president and CEO Tony Staffieri said in a news release.Rogers…