Toronto-Rogers Communications Inc. recorded a decline in its second quarter profit compared to a year ago as a result of high reorganization, acquisition and other costs.
The company said it earned $ 148 million or 29 cents per thin shared for shareholders for the quarter ended June 30.
The result was below the profit of $ 394 million or 73 cents per share in the same quarter last year.
The revenue for a period of three months was a total of $ 5.22 billion, which was $ 5.09 billion a year ago.
The company stated that wireless service revenue had increased by one per cent from a year ago as its customer base increased, while wireless equipment revenue increased by 13 per cent, mainly as a result of the sale of high devices to existing customers.
Media revenue increased by 10 percent for the launch of strong NHL playoff audiences and television channels Warner Discovery Suit on Sportsnet. Cable revenue was up to one percent.
The company updated its financial guidance to reflect its deal to buy a 37.5 percent stake in BCE Inc. in Maple Leaf Sports and Entertainment. It closed on 1 July after receiving $ 4.7 billion acquisition, which was required regulatory and league approval, made Rogers the majority owner of the sports group.
Rogers hopes that the previous forecast of zero, as a result of the anticipated contribution from MLSE, will increase the service revenue of three to five percent year-on-year in 2025.
On an adjusted basis, Rogers says that he earned $ 1.14 below $ 1.14 per thin shared in the second quarter of 2024.
The total price of $ 238 million in this quarter in restructuring, acquisition and other costs was $ 90 million a year ago.
The results came when the company reported the 61,000 total mobile phone net subscriber addition, which included 35,000 postpaid from 112,000 postpaid additions in the same quarter last year.
Monthly brainstorm of Net Postpaid mobile customers – a remedy for those canceling their service – 1.00 percent, below 1.07 percent during the last second quarter.
The company recorded 26,000 prepaid net additions in the quarter, compared to 50,000 prepaid subscriber additions in the second quarter of 2024.
Meanwhile, Rogers’ mobile phone average monthly revenue was $ 55.45 per user, below $ 57.24 in the second quarter of the year.
Retail internet net addition was a total of 26,000.
“In the second quarter, Rogers reported a strong financial performance to distribute wireless, cable and media in the media,” Rosors President and CEO Tony Staffieri said in a press release.
“Combined with the strong execution of our team, we took meaningful steps to unlock the price for shareholders by accelerating the delevening of our balance sheet and to create our transformative investment in our world class sports assets.”
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