Canada's Rogers beats revenue estimates on wireless recovery

Its total revenue was C$3.92 billion ($3.09 billion) in the fourth quarter, compared with the average analyst estimate of C$3.86 billion, according to Refinitiv IBES data. Net income fell to C$405 million, or 80 Canadian cents per share, from C$449 million, or 89 Canadian cents per share, a year earlier.

Rogers Communications Inc surpassed quarterly revenue expectations on Thursday as the telecom operator added more subscribers and benefited from higher demand for its internet and cloud-based services used for remote working.

The results come after a months-long battle for control of Canada's biggest wireless carrier that saw Chairman Edward Rogers oust CEO Joe Natale and appoint his confidante Tony Staffieri to the role. The company's wireless business posted healthy growth in the last three months of 2021 thanks to an increase in subscribers who pay a monthly phone bill and a jump in roaming revenue as travel restrictions were eased.

Rogers said it expected total service revenue growth of 4% to 6% in 2022, as the pandemic-induced shift to working from home continues to boost demand for the high-speed internet its cable business provides. Its total revenue was C$3.92 billion ($3.09 billion) in the fourth quarter, compared with the average analyst estimate of C$3.86 billion, according to Refinitiv IBES data.

Net income fell to C$405 million, or 80 Canadian cents per share, from C$449 million, or 89 Canadian cents per share, a year earlier. ($1 = 1.2704 Canadian dollars)

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