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Rogers’ quarterly revenues improve 14% year-on-year

Canadian mobile market leader Rogers Communications' total revenue increased by 14% year-on-year in the second quarter of 2021 to CAD3.582 billion (USD2.834 billion). Wireless revenue increased by 7% to CAD2.064 billion, with underlying mobile service revenue rising 2%, mainly as a result of a larger post-paid subscriber base, helped by higher roaming revenue as global travel restrictions were generally less strict than in the same period last year. Cable division revenue increased by 5% to CAD1.013 billion in the April-June quarter, which Rogers attributed to 'disciplined promotional activity, service pricing changes in late 2020, and increases in Internet and Ignite TV subscriber bases.' Consolidated adjusted EBITDA increased 6% to CAD1.374 billion in 2Q21.

Rogers' CEO Joe Natale said: 'Our solid performance in the second quarter is a result of strong execution across each of our business units as the economy continues to recover from pandemic lockdowns. We saw our Wireless service revenue return to year-over-year growth and we delivered strong Wireless post-paid subscriber net additions. Our Cable business continued to deliver consistent top and bottom-line growth and our Sports and Media business is seeing advertising revenue recover.'

Thanks to TeleGeography for this industry update.

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Friday, 24 September 2021

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