Rogers' subscriber growth hit by slowdown in newcomers to Canada [Financial Post (Toronto, Ontario, Canada)]
Rogers Communication, Inc. (RCI)
Last rogers communication, inc. earnings: 4/22 07:00 am
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Source: Financial Post
A reduction in the number of newcomers being allowed into Canada is already having on impact on subscriber growth at Rogers Communications Inc., the telecom giant said during its third quarter earnings call on Thursday. “We certainly saw lower volumes and size of market in the third quarter as a result of government limitations on foreign students (and) temporary workers,” chief executive Tony Staffieri told analysts, adding that curbs on immigration were starting to be felt in the fourth quarter as well. Rogers reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $2.55 billion for the third quarter, up six per cent from 2023. It said the increase was a result of synergies associated to its acquisition of Shaw Communications Inc. as well as ongoing cost efficiencies. Adjusted diluted earnings were $1.42 per share, up 12 per cent. Wireless subscriber counts, however, a key performance indicator, grew less in the quarter compared to the
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RCI
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- 10/24/24 - Beat
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- 9/18/24 - Form 6-K
- RCI's page on the SEC website