Rogers Sees Revenue Increase In Fourth Quarter, Driven By Wireless

Financials

ROGERS COMMUNICATIONS fourth fiscal quarter overall revenue rose 2% to C$3.51 billion, with adjusted net income up 15% to C$382 million (74 cents/adjusted earnings per share), but the company noted that the media division, which includes its radio stations along with broadcast TV, cable channels, and publishing, saw a decrease blamed on fewer TORONTO BLUE JAYS playoff games this year and a decline in ad sales.  Wireless revenue -- up 6% -- was the primary driver of the company's growth, as cable revenue rose marginally.

"We ended 2016 with continued momentum and strong operating performance in the fourth quarter. We maintained robust Wireless revenue growth, underpinned by strong subscriber metrics, and translated this to healthy adjusted operating profit. Internet results showed sustained strength as Rogers offers customers the fastest widely available Internet speeds in our marketplace," said Chairman and Interim President and CEO ALAN HORN. "Our momentum to date as well as our commitment to further improve the customer experience, and enhance our execution, position us well to achieve our stronger growth targets for 2017."

The company's guidance is projecting a 3-5% revenue increase this year.  ROGERS' Board of Directors also declared a quarterly dividend of 48 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares, payable APRIL 3rd to shareholders of record as of MARCH 13th.

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