April 24, 2012 / 8:13 PM / 6 years ago

Rogers profit drops 16 pct as cable, wireless slip

TORONTO, April 24 (Reuters) - Rogers Communications Inc , Canada’s largest mobile phone company, posted a 1 6 p ercent drop in its first-quarter pr ofit o n Tuesday as ri sing competition hurt its cable and wireless divisions.

The Toronto-based company, which is also a major cable TV and Internet provider, turned an adjusted net profit of C$3 56 m illion, or 67 C anadian cents a share, in the three months ended March 31. That compares with C$423 mi llion, or 76 Ca nadian cents, a year earlier. Revenue slipped 1 percent to C$2.95 bill ion.

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