Rogers Posts Quarterly Loss After Impairment Charge

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Rogers posts quarterly loss after impairment charge By
Published: 12:09, 26 January 2017 | Updated: 12:09, Urimet tuaja 26 January 2017
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Jan 26 (Reuters) - Rogers Communications Inc, Canada's largest wireless provider by market share, reported a net loss due to a C$484 million ($369.18 million) impairment charge, as it discontinued investment in its Internet Protocol Television (IPTV) product.

Toronto-based Rogers posted a net loss of C$9 million, or a loss of 4 Canadian cents per share, in the fourth quarter ended Dec.

31, compared with a profit of C$299 million, or 58 Canadian cents per share, a year earlier.

However, revenue rose 1.68 percent to C$3.51 billion. ($1 = 1.3110 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru; Editing by Martina D'Couto)