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Earnings Review: Rogers Communications Inc. Beats Expectations in Q3

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

Highlights:

  • Record Growth: Achieved 261,000 total mobile phone net adds, marking the company’s strongest quarter ever.
  • Substantial Net Adds: Gained 279,000 new mobile phone and Internet subscribers, a 52,000 increase from Q3 2022.
  • Postpaid Strength: Noted 225,000 postpaid mobile phone net adds, the highest ever recorded.
  • Beat Expectations: Earnings, adjusted for non-recurring costs, came to 95 cents per share, exceeding the consensus expectations of 79 cents per share. The firm posted a revenue of $3.5 billion, exceeding the estimates of $3.37 billion.

In an impressive display of market dominance and strategic success, Rogers Communications Inc. has reported robust results for the third quarter of 2023. The company has attracted many new customers and recorded the highest postpaid net adds in its history. These achievements underscore Rogers’ growing appeal and commitment to delivering exceptional service.

Record Customer Growth

The third quarter saw Rogers surge in customer acquisition, signaling strong consumer confidence and a solid product offering. The company’s customer base expanded considerably with 261,000 total mobile phone net additions, surpassing last year’s figures and setting a new record for quarterly growth. The postpaid segment, often seen as a key indicator of customer loyalty and service quality, was particularly robust, with an unprecedented 225,000 net additions.

Strategic Initiatives Paying Off

Rogers’ strategic initiatives have evidently paid off, as seen in its remarkable third-quarter performance. The company’s focus on enhancing customer experience and expanding its network infrastructure has been met with a positive response from the market. The impressive growth in both mobile phone and internet subscriptions is a testament to Rogers’ strong brand and its ability to meet the evolving needs of Canadians.

As Rogers Communications Inc. celebrates a landmark quarter, the company is well-positioned for sustained growth. The results reflect the company’s current health and lay a promising foundation for the future. With record-setting net adds and a firm grasp on market trends, Rogers is poised to continue its trajectory as a leading communications provider in Canada.

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