TORONTO — Rogers Communications Inc. reported its first-quarter profit grew compared with a year ago as it continued to grow its number of mobile and internet customers.
The company says it earned $280 million of 50 cents per diluted share for the quarter ended March 31.
The result was up from a profit of $256 million or 46 cents per share in the same quarter last year.
Revenue for the three-month period totalled $4.98 billion, up from $4.90 billion a year earlier.
The company said wireless service revenue was up two per cent from a year ago as its subscriber base grew, while wireless equipment revenue fell three per cent on lower device sales.
Media revenue rose 24 per cent, boosted by higher sports-related revenue, including at the Toronto Blue Jays, and higher subscriber and advertising revenue. Cable revenue fell one per cent.
The results came as the company reported 34,000 total mobile phone net subscriber additions, including 11,000 postpaid and 23,000 prepaid. Retail internet net additions totalled to 23,000.
On an adjusted basis, Rogers says it earned 99 cents per diluted share, the same as the first quarter of 2024.
Rogers chief executive Tony Staffieri said the results came against a backdrop of a slowing economy.
“We are executing with discipline, deleveraging our balance sheet ahead of schedule, and making strategic investments to drive long-term growth,” Staffieri said in a statement.
This report by The Canadian Press was first published April 23, 2025.
Companies in this story: (TSX:RCI.B)
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