Rogers Lowers 2024 Revenue Growth Forecast Amid Media Division Weakness

The telecom giant now expects 7% growth, down from its initial 8-10% target, citing fourth-quarter challenges in its media segment.

Rogers Communications revised its 2024 service revenue growth projection to just over 7%, down from the earlier forecast of 8-10%.
The adjustment was driven by weaker-than-expected performance in the media division during the fourth quarter, particularly offsetting gains from sports-related revenue.
Rogers’ media business, which includes sports, television, and radio, accounts for about 10% of its overall revenue and faced challenges such as rising costs and declining advertising demand.
Despite the media struggles, the company highlighted strong performance in its wireless and cable segments and announced a C$7 billion equity investment for network expansion.
Rogers plans to release its full fourth-quarter financial results and 2025 outlook on January 30, 2025, during a scheduled teleconference.