Rogers’ Q4 revenues climb 6% driven by mobile and media divisions

28 Jan 2022

Canada’s Rogers Communications’ total revenue increased by 6% year-on-year to CAD3.919 billion (USD3.084 billion) in the fourth quarter of 2021, with service revenue climbing 7% to CAD3.232 billion, driven by growth at its mobile (Wireless) and Media divisions. Mobile service revenue improved by 6%, mainly resulting from post-paid subscription base growth and higher roaming revenue, as COVID-19-related global travel restrictions were generally less strict than the year-ago quarter. Wireless equipment revenue increased by 4% on higher device upgrades by existing subscribers, and higher gross additions, partially offset by increased promotional activity during key selling periods. Cable revenue was stable in the quarter, primarily due to the movement of customers to higher speeds and usage tiers in Rogers’ Ignite Internet offerings alongside increases in Internet and Ignite TV subscription bases, offset by declines in legacy TV and home phone subscriptions.

Consolidated adjusted EBITDA decreased 4% y-o-y in October-December 2021 to CAD1.522 billion. Wireless adjusted EBITDA increased by 5%, primarily as a result of the flow-through of revenue growth, while Cable adjusted EBITDA was in line with the previous year. Quarterly net income and adjusted net income fell y-o-y by 10% to CAD405 million and 3% to CAD486 million, largely due to lower EBITDA.

Rogers also stated that its proposed merger with Shaw Communications remains on track to close in the first half of 2022. CEO Tony Staffieri declared: ‘This is a critical year for Rogers and the changes we are making to drive a renewed focus on execution, along with strategic investments in our networks and customer experience, should help drive long-term growth and increase shareholder value. We will accelerate the momentum across our business as we come together with Shaw to expand our next-generation networks nationally, offer customers more choice, and enable Canada to thrive in the global digital economy.’

Canada, Rogers Communications