Rogers Communications Inc. updated its full-year 2024 service revenue guidance, now expecting annual consolidated service revenue growth just over 7%. This revised outlook is lower than its previous guidance range of 8%-10% issued in February 2024.
The adjustment is primarily attributed to softer-than-expected media revenue during the fourth quarter. Despite this, Rogers stated that all other guidance items for the year remain unchanged.
Tony Staffieri, President and CEO, acknowledged the impact of media revenue on the company's target but affirmed continued industry-leading execution throughout the year. This revision provides investors with an updated perspective on the company's financial performance for 2024.
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