The telecommunications firm reported $4.98 billion in first-quarter revenue, up two per cent from a year earlier. The company added 11,000 postpaid wireless phone subscribers in the quarter, above the 7,000 analysts expected but 89 per cent lower than last year. (The Logic)
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The telecommunications firm reported $4.98 billion in first-quarter revenue, up two per cent from a year earlier. The company added 11,000 postpaid wireless phone subscribers in the quarter, above the 7,000 analysts expected but 89 per cent lower than last year. (The Logic)
alking point: Rogers cited lower population growth following changes to Ottawa’s immigration policies for the decline in wireless subscribers. The company’s media division was a bright spot on the balance sheet, with sports and entertainment driving revenue up 24 per cent in the segment last quarter. Rogers president and CEO Tony Staffieri said there’s still more value to glean from its growing portfolio of sports assets. Earlier this month, the company announced an $11-billion deal for the national rights to NHL games in Canada for 12 years, starting in 2026 when its current 12-year contract ends. Rogers is also removing the two per cent discount on dividends that are reinvested into the company. Its stock was down less than one per cent when markets closed Wednesday.
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