Canada's Rogers Communications Q2 revenue beats on media growth, cable subscriber gains

Rogers Communications

22/07/2026 12:14

    

    Overview
  
Canada telecom and media firm's Q2 revenue rose 8%, beating analyst expectations
Adjusted EPS for Q2 beat consensus
Company agreed to buy remaining 25% stake in Maple Leaf Sports & Entertainment

    

    Outlook
  
Rogers reaffirms 2026 outlook: service revenue growth of 3%-5%, adj EBITDA growth of 1%-3%
Company expects remaining MLSE minority stake purchase to close in Q4
Rogers plans to pursue sale of minority interest in consolidated sports assets over next year

    

    Result Drivers
  
MEDIA GROWTH - Media revenue rose 53%, mainly due to the consolidation of MLSE and higher Toronto Blue Jays revenue
CABLE SUBSCRIBER GAINS - Cable service revenue grew 1% due to retail Internet subscriber growth and base management activities
WIRELESS MIXED PERFORMANCE - Wireless service revenue was stable as customer additions were offset by lower mobile phone ARPU from competitive intensity

    
Company press release: ID:nGNX7g47GV

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Revenue
Beat
C$5.62 bln
C$5.55 bln (11 Analysts)
Q2 Adjusted EPS
Beat
C$1.15
C$1.13 (14 Analysts)
Q2 EPS
 
-C$1.37
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the wireless telecommunications services peer group is "buy"
Wall Street's median 12-month price target for Rogers Communications Inc is C$60.00, about 23.4% above its July 21 closing price of C$48.61
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

    

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)