Cogeco is a diversified telecommunication company opeating in Canada and Portugal. The company is the second largest cable system operator in Ontario, Quebec and Portugal, and also leading radio broadcaster in Quebec.
Cogeco Cable beats the Street in the third quarter
On a per share basis, Cogeco earned $1.08 per share, a penny higher than a year ago and five cents higher than the Street's median estimate.
The Montreal-based company's revenue rose 45.3 per cent to $464.5 million from $319.8 million in the same prior-year period.
Looking ahead, Cogeco is raising its guidance for operating income before depreciation and amortization to $780 million from $767 million for the full fiscal year. The company also predicts its operating margins will rise to 46 per cent from 45.2 per cent.
During the quarter, Cogeco acquired Atlantic Broadband, a cable operator in five American states and Peer 1 Hosting, a technology services provider.
Cogeco shares increased 2.8 per cent to $47.83 at the opening bell.