Cable, media pull down Q2 profits at Rogers

TORONTO – Rogers’ second quarter profits fell 24% while revenues for the period were virtually unchanged from last year, the company announced Thursday.For the quarter ended June 30, 2014, Rogers posted consolidated net income of $405 million, well below $532 million in the same period last year, on operating revenue of $3.21 billion, which was flat from the second quarter of 2013. Adjusted net income was $432 million, a 13% drop from $497 million last year.Rogers said that Wireless network revenue of $1.8 billion dipped 1% year-over-year due in part to the less expensive roaming plans introduced over the past year. ...