Rogers’ Earnings Matches Estimates as Sports Assets Drive Media Growth
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Article content(Bloomberg) — Rogers Communications Inc. matched analysts’ first-quarter estimates as the telecom firm continues to build momentum in its sports franchise. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe country’s biggest mobile phone provider earned C$1.01 per share on an adjusted basis, in line with the C$1.01 expected by analysts in a Bloomberg survey.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentRogers’ media revenue grew by 82% from a year ago to C$988 million ($724 million) after the firm doubled its stake in Maple Leaf Sports & Entertainment on July 1.Article contentRevenue in the wireless segment, Rogers’ largest business, grew 2% from a year ago to C$2.59 billion. The company added 28,000 postpaid mobile subscribers during the quarter, more than the 7,630 expected by analysts. Article contentArticle content“We will continue to execute with discipline throughout 2026 as we look to monetize the very substantial unrecognized value in our world-class sports assets while accelerating free cash flow generation and advancing our deleveraging plan,” Chief Executive Officer Tony Staffieri said in a statement Wednesday.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe company now expects free cash flow to be between C$4.1 billion and C$4.3 billion, up by about C$800 million from 2025.Article contentRogers, BCE Inc. and Telus Corp. were downgraded in early April by TD Cowen’s Vince Valentini. The analyst expects the firms to continue keeping prices down to attract customers, sacrificing revenue for market share in an environment with fewer potential new subscribers. Canada’s population growth stagnated last year after the federal government set out lower immigration targets. Article contentPrior to Wednesday’s earnings release, Rogers’ nearly 15% drop in shares during April outpaced the 7.3% drop for BCE and 6.5% drop for Telus.Article contentTrending An old factory in Welland, Ont., sat derelict for years — until someone discovered it could be worth billions Mining Canadian telecom Rogers goes into tailspin as price war heats up Telecom Toronto's condo market 'hits bottom' with some developers looking at selling units below cost Real Estate Should Caroline, 62, defer CPP and OAS until age 70, or even delay retirement entirely?
Personal Finance Posthaste: Canada's home prices have now been falling for four years — and haven't hit bottom yet News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. An old factory in Welland, Ont., sat derelict for years — until someone discovered it could be worth billions Mining Canadian telecom Rogers goes into tailspin as price war heats up Telecom Toronto's condo market 'hits bottom' with some developers looking at selling units below cost Real Estate Should Caroline, 62, defer CPP and OAS until age 70, or even delay retirement entirely?
Personal Finance Posthaste: Canada's home prices have now been falling for four years — and haven't hit bottom yet News