Rogers Communication, Inc. (NYSE:RCI) shares are trading relatively flat on Wednesday after the company reported first-quarter results.
In U.S. dollars, the company reported first-quarter adjusted earnings per share of $1.04, beating the street view of $0.97. Quarterly sales of $3.92 billion beat the analyst consensus estimate of $3.84 billion.
In Canadian dollars, the company reported first quarter adjusted earnings per share of C$0.99.
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Total revenue and total service revenue each increased by 2% this quarter, driven by service revenue growth in our Wireless and Media businesses.
Wireless service revenue increased by 2% this quarter, primarily as a result of continued growth in our subscriber base.
Wireless equipment revenue decreased by 3%, primarily as a result of lower device sales to new and existing subscribers.
Cable revenue decreased by 1% this quarter as a result of continued competitive promotional activity and declines in our Home Phone, Video, and Satellite subscriber bases.
Media revenue increased by 24% this quarter, primarily as a result of higher sports-related revenue
“In the first quarter, we delivered positive revenue and adjusted EBITDA growth while growing mobile phone and Internet net additions against the backdrop of a slowing economy,” said Tony Staffieri, President and CEO.
Consolidated adjusted EBITDA increased 2% this quarter, and adjusted EBITDA margin increased by 10 basis points, primarily as a result of ongoing productivity and cost efficiencies.
Rogers Communications has reiterated its full-year 2025 service revenue growth guidance, projecting an increase of between 0% and 3%.
Price Action: RCI shares are trading higher by 0.75% to $25.60 at last check Wednesday.
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