The Globe and Mail reports in its Thursday edition that Rogers Communications earned $280-million in the first quarter, up 9 per cent from the same period last year. The Globe's Irene Galea writes that the telco posted $4.5-billion of service revenue during the three-month period ended March 31, up 2 per cent from last year. Total revenue was $4.9-billion, meeting analyst consensus. Media revenue was $596-million in the first quarter ended March 31, up 24 per cent from last year primarily as a result of higher sports-related revenue. However, the segment posted an EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $67-million for the quarter. Churn, the rate of customer turnover on a monthly basis, improved slightly among postpaid wireless subscribers. Q1 profit amounted to 52 cents a share, up from 48 cents a share in the same period of 2024. Over all, the telco met expectations in what analysts predicted would be an underwhelming quarter for the country's telecommunications sector. "Given the significant drag in stock performance lately, we would not be surprised to see a relief rally in the stock; however, the outlook remains sluggish," Scotiabank analyst Maher Yaghi said in a note.
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