Cogeco Communications shares drop as Q1 results miss expectations



  • Summary:

     

    Cogeco President and CEO Philippe Jette speaks during a news conference prior to the company's annual general meeting in Montreal, Wednesday, January 15, 2020. THE CANADIAN PRESS/Graham Hughes

    MONTREAL — Shares of Cogeco Communications Inc. fell by nearly seven per cent Wednesday after the cable and internet provider missed expectations despite a 20 per cent increase in net income in its most recent quarter.

    The Montreal-based company's shares were down $7.62 or 6.7 per cent at $105.30 in late morning trading on the Toronto Stock Exchange.

    Cogeco says it earned $84.2 million for the period ended Nov. 30, up from $70.2 million a year earlier.

    That translated into $1.70 per diluted share, compared with $1.41 per share in the first quarter of 2019.

    Revenue grew 1.8 per ...

     

     

    Read Full News: https://www.richmond-news.com/cogeco-communications-shares-drop-as-q1-results-miss-expectations-1.24053228


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