Rogers Q3 sales drop 2%

23 Oct 2020

Canada’s Rogers Communications reported that its total revenue decreased by 2% year-on-year to CAD3.665 billion (USD2.787 billion) in the third quarter of 2020, largely driven by a 9% decrease in mobile service revenue, itself a result of lower roaming revenue due to global travel restrictions during COVID-19, and lower data overage revenue (the latter due to the continued adoption of ‘Rogers Infinite’ unlimited mobile data plans). Wireless equipment revenue, on the other hand, increased as a result of a shift in the product mix of device sales towards higher-value devices. Cable division revenue decreased by 1% y-o-y in Q3 with ‘consistent service revenue’ and a decrease in equipment revenue. Consolidated adjusted EBITDA decreased 4% to CAD1.638 billion, and net income dropped 14% to CAD512 million primarily as a result of the lower EBITDA.

Rogers reported strong consumer demand for its 5G-ready Infinite unlimited mobile data plans which reached approximately 2.2 million subscribers at end-September, up almost 60% in the year-to-date, while it also highlighted 16,000 net new fixed broadband subscribers and 38,000 net new Ignite TV advanced video subscribers during the quarter.

Canada, Rogers Communications