Cogeco second-quarter profit falls without benefit of U.S. tax cuts GlobeBusiness
The profit from continuing operations was $87.6 million while discontinued operations lost $5.4 million.
Cogeco Peer 1 Inc., its business and information and communications services subsidiary were reclassified as discontinued operations following Cogeco Communications’ announcement to sell the operations for $720 million on Feb. 27. Revenues rose to $608.6 million from $554.1 million in the second quarter of 2018 on a 10 per cent growth in the communications segment following the acquisition of the MetroCast cable systems more than a year ago.
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