Revenue up, but cable, media weighs down Q1 profits at Rogers

TORONTO – A weak advertising market combined with restructuring costs at Rogers Communications helped to drive down first quarter profits by 3%, the company announced late Monday.Operating revenue for the period ended March 31, 2016 totalled $3.23 billion, up 2% from $3.18 billion year-over-year, but net income dropped to $248 million from $255 million in Q1 2015. On an adjusted basis, net income fell 4% from $275 million to $263 million, primarily as a result of higher depreciation and amortization and lower adjusted operating profit, partially offset by lower income taxes. Net income this quarter was also impacted by higher restructuring costs.The 2%...