.jpg)
1 hour ago
3
Article content
Rogers Communications Inc. reported “lessening” earnings growth as its consolidated results came in just one per cent above expectations.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The telecommunications and media company on Wednesday released its earnings results for the first quarter of 2026, reporting a 10 per cent increase in total service revenue to $4.9 billion, thanks to heavy lifting from its media revenue, while wireless and cable revenues barely moved.
Article content
Article content
Article content
Rogers’ media revenue jumped significantly — up 82 per cent to $988 million in the quarter — while wireless and cable revenues were up two per cent and one per cent, respectively.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“Heading into the quarter, we expected the market would be flat year-over-year, with no population growth and potentially no new net adds,” chief executive Tony Staffieri said during the company’s earnings call Wednesday morning.
Article content
On its wireless business, the company added 33,000 total net mobile phone additions in the quarter, including 28,000 postpaid.
Article content
Rogers chief financial officer Glenn Brandt said the company’s earnings growth is “lessening,” which he said reflects the regulatory environment and “a highly competitive market with zero to low wireless revenue growth.”
Article content
“This allows us to grow free cash flow and replace what was going to come from earnings growth with applying cash to paying down debt,” Brandt said.
Article content
The CFO said the past quarter was “anything but seasonally quiet,” with its telco peers having continued their holiday level of discounting into 2026 and throughout the first quarter.
Article content
Article content
Brandt said Rogers deliberately opted not to discount its prices, “seeking to restore sector pricing away from holiday level discounts.”
Article content
Article content
“However, our competitors stayed with their aggressive discounting throughout the quarter, and so we moved to selectively match their discounts with short time limited offers targeted to insulate our customer base from all of this,” he said.
Article content
He said the discounts have “only served to weaken performance metrics across the sector,” and are reflected in sector share price performance. He said that with three quarters still to go in 2026, the company is “hopeful market competition will resettle” around value for premium services rather than “undisciplined discounting.”
Article content
Article content
English (US)