Rogers Communication Registers 8% Revenue Growth In Q2 Backed By Wireless, Cable, Media Segments - Rogers

Rogers Communication, Inc (NYSE:RCI) reported second-quarter FY22 revenue growth of 8% year-on-year to C$3.87 billion. Service revenue grew 10% Y/Y to C$3.44 billion.
Rogers attracted 122,000 net postpaid mobile phone subscribers, up from 60,000 last year, with a churn of 0.68%.
Wireless service revenue increased by 11% Y/Y, mainly due to higher roaming revenue.
Cable service revenue increased by 3% Y/Y due to service pricing changes and increased Internet and Video subscriber bases.
Media revenue increased by 21% Y/Y due to higher sports-related revenue.
Adjusted EPS of C$0.86 improved 13% from C$0.76 last year.
Margin: Adjusted EBITDA margin expanded 280 bps to 41.2%, primarily due to increases in Wireless, Cable, and Media adjusted EBITDA.
Rogers generated C$1.32 billion in operating cash flow. It held C$665 million in cash and equivalents. It also held C$13.1 billionin restricted cash and equivalents that will be used to partially fund the cash consideration of Shaw Communications Inc (NYSE:SJR) transaction.
"Our performance in Q2 reflects the incredible hard work by our Wireless, Cable, and Media teams as we continue to recover from the impacts of the pandemic," CEO Tony Staffieri said. "In the coming quarters, we will continue to focus on delivering additional improvements as we build on these results while also working hard to regain the trust of our customers following our recent network outage."
Outlook: Rogers affirmed its FY22 service revenue growth outlook of 6% - 8% and adjusted EBITDA growth of 8% - 10%.
Price Action: RCI shares traded higher by 1.12% at $46.92 on the last check Wednesday.

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