Strong revenue and subscriber growth drive stock gains
- Rogers Communication shares rise 3.8% on better-than-expected revenue and earnings
- Revenue increases to C$5.09 billion, beating analyst expectations
- Adjusted earnings rise to C$1.27 a share, ahead of analyst expectations
- Mobile phone and internet additions increase by 52,000 from last year
- Integration synergies coming faster than expected, with C$600 million run rate anticipated by year-end
Rogers Communication shares climbed 3.8% after reporting better-than-expected revenue and adjusted earnings. The company’s revenue rose to C$5.09 billion, surpassing analyst expectations, while adjusted earnings reached C$1.27 a share. Mobile phone and internet additions increased by 52,000 from last year, with strong growth in both the eastern and western regions of Canada. Integration synergies are also exceeding expectations, with a C$600 million run rate anticipated by year-end. The company swung to a loss due to higher depreciation and amortization, as well as finance and restructuring costs related to its acquisition of Shaw.
Factuality Level: 8
Factuality Justification: The article provides specific information about Rogers Communications’ revenue, adjusted earnings, and subscriber growth, which can be verified. It also includes quotes from an analyst at Scotiabank. However, the article does not provide any information about the methodology used to calculate the revenue and earnings figures, and it does not provide any context or analysis of the company’s performance. Additionally, the article does not mention any potential challenges or risks that Rogers Communications may face in the future.
Noise Level: 7
Noise Justification: The article provides information on Rogers Communications’ better-than-expected revenue and adjusted earnings, as well as its push for new subscribers. It includes quotes from an analyst and mentions the reasons for the company’s loss. However, the article lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on financial figures and does not explore the consequences of the company’s decisions on stakeholders or discuss long-term trends.
Financial Relevance: Yes
Financial Markets Impacted: Rogers Communications
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses Rogers Communications’ better-than-expected revenue and adjusted earnings. There is no mention of an extreme event.
Public Companies: Rogers Communications (RCI), Scotiabank (BNS), Shaw (SJR)
Key People: Maher Yaghi (Analyst at Scotiabank)
Reported publicly:
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