04:56:19 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Rogers Communications Inc
Symbol RCI
Shares Issued 420,112,558
Close 2024-04-24 C$ 52.30
Market Cap C$ 21,971,886,783
Recent Sedar Documents

Globe says Rogers's Q1 financials called "impressive"

2024-04-25 08:12 ET - In the News

The Globe and Mail reports in its Thursday edition that Rogers Communications added 98,000 net new postpaid mobile-phone customers during the first quarter, up from 95,000 during the same quarter last year. The Globe's Alexandra Posadzki writes that the sprawling Toronto telco lost, on a net basis, 37,000 prepaid customers, compared with a net loss of 8,000 during the first three months of 2023. Ottawa recently announced plans to slash the number of temporary residents, and some analysts see that as a headwind for the sector, which has benefited from immigration in recent years. Monthly ARPU -- average revenue per user -- was $58.06, up 80 cents year-over-year from $57.26. Desjardins analyst Jérome Dubreuil characterized the ARPU growth as "impressive in the context of strong competition, and shows RCI's commitment to its premium-brand-first strategy." "This might not be the case for peers as they have not fully followed this strategy," he wrote in a research note. Churn -- the rate of customer turnover on a monthly basis -- in its postpaid customer base rose to 1.10 per cent, up from 0.79 per cent during the same period last year. BCE is scheduled to report next week, with Telus Communications slated for May 9.

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