Rogers Communications has reported a loss of 24% in profit for Q3. Shares have dropped 7% since market open based on the news. Net income for Rogers (TSX: RCI.B) lowered to $370 million or .64 cents per share for Q3. That’s down from $485 million, or 79 cents per share, at the same time a year earlier.
Rogers says heightened competition in the overall market resulted in fewer net subscriber additions to its wireless services, compared with last year.