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(Bloomberg) — Rogers Communications Inc. matched analysts’ first-quarter estimates as the telecom firm continues to build momentum in its sports franchise.
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The 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.
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Rogers’ 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.
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Revenue 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.
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“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.
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The 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.
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Rogers, 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.
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Prior 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.
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