07:31 AM EDT, 10/24/2024 (MT Newswires) -- Rogers Communications (RCI-B.TO) on Thursday reported an adjusted profit beat for the third quarter, even as revenue missed its forecast.

Adjusted profit rose 12% to $762 million, or $1.42 per diluted share, from $679 million, or $1.27 per diluted share. The result beat the consensus analyst forecast of $1.34 per share, according to Capital IQ.

Quarterly revenue rose 1% to $5.13 billion, missing the Capital IQ forecast of $5.17 billion. The increase was driven by revenue growth in Rogers' wireless and media businesses, which offset a 1% dip in cable revenue. Total service revenue also rose 1%, to $4.6 billion.

The company reaffirmed its 2024 outlook, including total service revenue growth of 8% to 10%; and capital expenditures of $3.8 billion to $4.0 billion.

Rogers will pay a quarterly dividend of $0.50 on Jan 3.