Rogers Communications Inc. announced a fourth-quarter profit surge and revenue growth, driven by strong performance in its wireless and media segments. The company reported a net increase in postpaid mobile phone subscribers, while prepaid subscriber additions reversed a previous decline.
Rogers Communications Inc. reported a fourth-quarter profit of $558 million, an increase from $328 million a year earlier, as its revenue edged higher. The company said its profit amounted to $1.02 per diluted share for the quarter ended December 31, up from 62 cents per diluted share in the last three months of 2023. The company stated that its wireless service revenue was up two percent, while wireless equipment revenue rose nine percent. Cable service revenue remained stable.
Media revenue rose 10 percent, primarily as a result of higher sports- and entertainment-related revenue, although it fell short of the company's expectations. On an adjusted basis, Rogers reported an earnings of $1.46 per diluted share in its latest quarter, compared to an adjusted profit of $1.19 per diluted share. \“The fourth quarter concludes three consecutive years of industry-leading results,” said Rogers president and CEO Tony Staffieri in a news release. “As I look toward the year ahead, our 2025 outlook reflects continued growth, robust free cash flow, and investment in our core businesses.” Rogers reported a net increase in postpaid mobile phone subscribers totaling 69,000 for the three-month period, a significant decrease from the 184,000 net additions recorded in the same period last year. Rogers' monthly churn for net postpaid mobile subscribers — a measure of those who canceled their service — was 1.53 percent, down from 1.67 percent during its previous fourth quarter. The company witnessed a turnaround in the prepaid market, with 26,000 net additions in the quarter, compared to a loss of 73,000 subscribers in the fourth quarter of 2023. Meanwhile, Rogers' mobile phone average monthly revenue per user was $58.04, up from $57.96 in the fourth quarter of the prior year.
Rogers Communications Fourth-Quarter Earnings Profit Increase Revenue Growth Wireless Service Cable Service Media Revenue Mobile Subscriber Growth Prepaid Market Churn Rate
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