Rogers Communications Inc. narrowly missed analyst estimates in the first quarter as competitive pricing weighed on its cable business.

Canada’s largest wireless company earned 99 Canadian cents per share on an adjusted basis, less than the C$1.01 expected by analysts in a Bloomberg survey. Revenue of almost C$5 billion was in line with forecasts.

Rogers added 34,000 mobile subscribers during the quarter. In the wireless division, service revenue rose, and earnings before interest, taxes, depreciation and amortisation each rose 2%. Its cable division, which grew through the acquisition of Shaw Communications Inc. two years ago, saw revenue drop 1% as the company offered promotional pricing to compete with peers.

Rogers agreed recently to sell a C$7 billion ($5.1 billion) stake in its wireless network to funds managed by Blackstone Inc. and backed by four Canadian pensions. Proceeds from the deal will be used to reduce leverage.