Rogers Communications Inc. reported its second-quarter 2025 financial results, beating Wall Street expectations for revenue. The company achieved C$5.22 billion in revenue, an increase of 2.4% year-over-year, driven by the adoption of higher-priced mobile bundles and a strong performance in its media segment.
Despite the revenue beat, the company reported an adjusted earnings per share of C$0.82, which missed the analyst consensus estimate of C$0.80. Net income for the quarter fell due to costs associated with restructuring and acquisitions.
Rogers updated its 2025 guidance, lifting its full-year service revenue outlook to reflect the consolidation of Maple Leaf Sports & Entertainment (MLSE) from July 1. The company now expects total service revenue growth of 3% to 5%, an increase from the prior outlook of 0% to 3%.
Consolidated service revenue and adjusted EBITDA both grew 2% year-over-year. The Wireless segment saw service revenue and adjusted EBITDA each grow 1%, with 61,000 total subscriber net additions. The Cable business returned to revenue growth with a 1% increase in service revenue and a 3% rise in adjusted EBITDA, driven by 26,000 retail Internet net additions.
Media revenue surged 10% to over C$800 million, with EBITDA up C$5 million, fueled by strong viewership on Sportsnet during the NHL playoffs, higher Toronto Blue Jays revenue, and the launch of Warner Bros. Discovery channels. Capital expenditures are projected at the low end of the C$3.8 billion to C$4 billion range, and free cash flow is anticipated to be C$3 billion to C$3.2 billion.
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