TORONTO -- The success of the Toronto Blue Jays contributed to a modest increase in overall second-quarter revenue at Rogers Communications (TSX:RCI.B), which improved its adjusted earnings more than expected.
The Toronto-based company's overall revenue was up two per cent to $3.46 billion -- an increase of $52 million that came mainly from its wireless and media divisions.
Rogers Media revenue rose by $33 million to $615 million as higher contributions from the Blue Jays and Sportsnet specialty TV offset lower advertising revenue from conventional television, publishing and radio operations.
The wireless division remained by far the biggest source of revenue for Rogers, rising one per cent or $28 million to $1.931 billion from $1.903 billion, followed by cable, which was $870 million -- up $1 million from last year.
Rogers' net income rose nine per cent to $394 million, from $363 million last year. Adjusted earnings rose four per cent to $427 million from $412 million.
The profit amounted to 76 cents per share before adjustments and 83 cents per share after adjustments, compared with 70 cents and 80 cents respectively in the second quarter of 2015.
Analysts had estimated adjusted earnings of 81 cents per share and revenue of $3.47 billion, according to Thomson Reuters.
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