Rogers Communication Boasts 6% Revenue Spike In Q4 Backed By Postpaid Subscriptions

  • Rogers Communication, Inc RCI reported fourth-quarter FY22 revenue growth of 6% year-on-year to C$4.17 billion. Service revenue grew 6% Y/Y to C$3.44 billion.
  • Rogers attracted 193,000 net postpaid mobile phone subscribers, up from 52,000 last year, with a churn of 1.24%.
  • Wireless service revenue increased by 7% Y/Y, mainly due to higher roaming revenue.
  • Cable service revenue was stable Y/Y due to increased competitive promotional activity.
  • Media revenue increased by 17% Y/Y due to higher sports-related revenue.
  • Adjusted EPS of C$1.09 improved by 14% from C$0.96 last year.
  • Margin: Adjusted EBITDA margin expanded 150 bps to 40.3%, primarily due to Wireless and Media adjusted EBITDA increases.
  • Rogers generated C$635 million in free cash flow, up 36%. It held C$0.5 billion in cash and equivalents. It also had C$12.8 billion in restricted cash and equivalents that will partially fund the cash consideration of the Shaw Communications Inc SJR transaction.
  • FY23 Outlook: Toronto-based Rogers expects a service revenue growth outlook of 4% to 7% and adjusted EBITDA growth of 5% to 8%.
  • Price Action: RCI shares closed higher by 0.06% at $48.68 on Wednesday.


Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceTop StoriesBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!