Rogers' fourth-quarter subscription additions misses estimates (updated)

Rogers Communications

30/01/2025 12:18

(Adds background in paragraphs 3,4; details from the release in
paragraph 5)
       Jan 30 (Reuters) - Canada's Rogers Communications
 RCIb.TO  said on Thursday it added fewer-than-expected
quarterly wireless subscriptions, amid an intense pricing war
between rivals and lower immigrations.
    The company added 69,000 monthly bill-paying wireless phone
subscribers in the fourth quarter, compared with estimates of
72,380, according to analysts polled by Visible Alpha.
    Amid intense competition in Canada's wireless industry, BCE
 BCE.TO  and Telus  T.TO  lowered prices for wireless and
wireline broadband to put pressure on Rogers and Quebecor
 QBRb.TO , which has led to a price war.
    Canada is also undergoing a notable shift in policy,
welcoming less immigrants and students in the country than it
historically has. This is expected to impact demand for the
country's carriers, which have relied on newcomers to expand its
customer base.
    The company reported net income of C$558 million ($387.07
million) for the quarter ended Dec. 31, compared with C$328
million ($227.52 million), a year ago.


($1 = 1.4416 Canadian dollars)

 (Reporting by Rishi Kant in Bengaluru; Editing by Shailesh
Kuber)
 ((Rishi.Kant@thomsonreuters.com;))