Canada's Rogers revenue beats on customer addition, higher roaming charges

Published on November 09, 2022 11:23 PM AEDT

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(Reuters) -Rogers Communications Inc on Wednesday beat quarterly revenue expectations as the Canadian wireless giant benefited from higher roaming charges due to a rebound in international travel and customers opting for pricier plans.

The carrier added 164,000 monthly bill paying wireless subscribers in the third quarter as its efforts to expand 5G coverage helped attract more customers.

The Toronto Blue Jays owner has also seen a recovery in its media business, thanks to higher ad sales on its networks and the return of live sporting events.

The company's total revenue rose to C$3.74 billion ($2.78 billion)in the third quarter compared to C$3.67 billion a year earlier. Analysts on average were expecting a revenue of C$3.73 billion, according to Refinitiv data.

Net income fell to C$371 million, or 71 Canadian cents per share, from C$490 million, or 94 Canadian cents per share, a year earlier.

The company incurred a C$150 million charge in customer credits during the quarter due to a massive network outage in July.

($1 = 1.3436 Canadian dollars)

(Reporting by Eva Mathews in Bengaluru; Editing by Arun Koyyur)

Reuters

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