Rogers Communications Reports Strong Earnings, Announces $7 Billion Equity Deal

The telecom giant surpasses earnings expectations while planning a major investment to reduce debt and expand its network.

Rogers Communications exceeded analyst expectations with adjusted earnings per share of $1.04 USD, or C$1.42, marking a 12% year-over-year increase.
The company reported a net income of $526 million, rebounding from a $99 million loss in the previous year.
Rogers is set to raise $7 billion through a structured equity deal, allowing a financial investor to gain a minority stake in its regional wireless network.
Despite the earnings beat, Rogers fell short of subscriber growth estimates, adding 101,000 post-paid subscribers against an expected 129,040.
Media revenue surged by 11%, driven by sports-related content, as Rogers continues to invest heavily in the Canadian sports entertainment sector.