Rogers Sees Overall Revenue Increase For Third Quarter, But Media Division Lags

Q3 Results

ROGERS COMMUNICATIONS third quarter 2017 total revenue rose 3% to C$3.581 billion, with adjusted net income up 22% to $523 million (C$1.02/share).  Revenue growth was driven primarily by a 7% jump in the wireless service segment, while media revenue, which includes radio and TV as well as the company's sports interests, fell 3% to $516 million, reflecting the boost in 2016 from WORLD CUP OF HOCKEY revenue and declines in publishing due to a move to digital.  Media segment adjusted profit also fell 18% to $65 million, blamed on rising TORONTO BLUE JAYS payroll costs and the publishing shift.

"Our third quarter results reflect continued momentum with strong top-line growth and flow-through to adjusted operating profit. Our team delivered on all key operating and financial metrics in our largest segment, Wireless. We significantly grew subscribers, revenue, adjusted operating profit, and margins. We are pleased with our postpaid churn result," said President and CEO JOE NATALE. "In a highly competitive quarter, Cable financials were strong thanks to our Internet competitive speed advantage. We continue to focus our efforts to drive customer service and margin improvements."

The company has reaffirmed its revenue guidance for full year 2017 (a 3-5% projected increase) and increased its adjusted operating profit guidance from 2-4% to 5-6%, based on strong growth in wireless.

And the ROGERS Board of Directors has declared a quarterly dividend of 48 cents/share on each of its outstanding Class B Non-Voting shares and Class A Voting shares, payable JANUARY 2nd to shareholders of record as of DECEMBER 11th.

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