Rogers Communications Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenue of CAD 3,510 million compared to CAD 3,452 million, loss before income taxes of CAD 14 million against income of CAD 411 million, adjusted operating profit of CAD 1,259 million against CAD 1,226 million, adjusted net income of CAD 382 million or CAD 0.74 per diluted share against CAD 331 million or CAD 0.64 per diluted share a year ago. Net loss was of CAD 9 million or CAD 0.04 per diluted share against income of CAD 299 million or CAD 0.58 per diluted share a year ago. Cash provided by operating activities of CAD 1,053 million against CAD 950 million, property, plant and equipment expenditures of CAD 604 million against CAD 773 million a year ago.

For the year, the company reported revenue of CAD 13,702 million compared to CAD 3,366 million, income before income taxes of CA 1,159 million against CAD 1,819 million, adjusted operating profit of CAD 5,092 million against CAD 5,032 million, adjusted net income of CAD 1,481 million or CAD 2.86 per diluted share against CAD 1,490 million or CAD 2.86 per diluted share. Net income was of CAD 835 million or CAD 1.62 per diluted share against CAD 1,342 million or CAD 2.60 per diluted share. Cash provided by operating activities of CAD 3,957 million against CAD 3,747 million, property, plant and equipment expenditures of CAD 2,352 million against CAD 2,440 million. Adjusted net debt was CAD 15,328,000 against CAD 15,590,000 a year ago. Revenue increased 2% this quarter, largely driven by Wireless service revenue growth of 6%. Higher adjusted operating profit this quarter reflects an increase in Wireless adjusted operating profit due to the strong flow through of top line growth described above and improved Cable performance due to the shift in product mix to higher-margin Internet services. Excluding the impact from the CRTC decision to reduce wholesale Internet interim access service rates described above, Cable adjusted operating profit growth would have been 5%.

The company provided earnings guidance for the year 2017. For the year, the company expected adjusted operating revenue in the range of 2% to 4% increase over the 2016. Operating revenue in the range of 3% to 5% increase over the 2016. Additions to property, plant and equipment in the range of CAD 2,250 million to CAD 2,350 million and free cash flow in the range of 2% to 4% increase over the 2016.