Rogers Communications lost more than $64.7 million on $1.26 billi...
Rogers Communications lost more than $64.7 million on $1.26 billion in revenue in the quarter ended March 31. That compared with earnings of more than $23.7 million on revenue of $1.11 billion in the same period a year before,…
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the firm said. The company attributed the loss to a $161.1 million in expenses that were “principally a loss on foreign exchange on U.S. dollar denominated debt.” The company said it also had a loss on repayment of long-term debt. The company changed its accounting policy of expensing the value of employee stock options, increasing its operating expenses by $3 million. During the quarter, the company had an increase of 38,000 Internet subscribers and 27,900 digital cable households. Rogers lost 3,400 basic subscribers.