cogeco communications inc shares were down friday morning after the company said fewer customers more competition and the general economic climate would stifle revenue and earnings growth rates in fiscal 2023 at 1004 am et shares were trading 64 lower at 7641 canadian dollars 5714 the canadian telecommunications and media company said late thursday that it revised guidance for its fiscal 2023 revenue to grow between 05 and 2 in on a constant currency basis down from a previous range of between 2 and 4 in fiscal 2022 the company generated revenue of c29 billion cogeco also revised adjusted earnings before interest taxes depreciation and amortization to grow between 05 and 2 compared with a previous expectation of between 15 and 35 the company said the revised forecasts are driven by a lower customer base than expected in ohio and to a lesser extent by the current economic conditions which are impacting customers discretionary spending especially for the corporations entrylevel services and by increasing competition the company said it has begun a number of costoptimization initiatives and prudent cashmanagement strategies in order to minimize any negative effects on revenue and earnings