Investing.com -- Shares of Cogeco (TSX:CGO) Communications suffered a 4% drop on the Toronto Stock Exchange, following the company's announcement of its first-quarter fiscal 2025 revenue, which fell short of consensus expectations.
The telecommunications company reported a 1.2% decrease in revenue to $738.7 million for the quarter that ended on November 30, 2024.
The company noted that on a constant currency basis, revenue experienced a 1.6% decrease. This was attributed to a decline in the American telecommunications segment, while the revenue in the Canadian telecommunications sector remained stable.
Despite the revenue shortfall, Cogeco maintained its financial guidelines for fiscal 2025.
In a brighter spot, the company reported an increase in its adjusted EBITDA by 1.7%, reaching $365.2 million.
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