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Rogers Comm's Q1 Earnings Exceed Expectations Driven by Wireless Strength

Rogers Communications Inc (NYSE:RCI) reported fiscal first-quarter 2024 revenue growth of 28% year-over-year to $3.64 billion (4.90 billion Canadian dollars), beating the consensus of $3.58 billion. The adjusted EPS of $0.73 (CA$0.99) beat the consensus of $0.72. Total service revenue grew 31% Y/Y to CA$4.36 billion on higher revenue growth in the Cable and Wireless businesses. Wireless service revenue increased by 9% Y/Y, mainly aided by the cumulative impact of growth in the mobile phone subscriber base and revenue from Shaw Mobile subscribers. Wireless equipment revenue increased ...