fbpx
News

Rogers reports wireless subscriber, revenue growth in Q4 results

Rogers' added 193,000 wireless postpaid customers in the last quarter, growing its profits by 25 percent

Rogers’ Q4 financial results show growth in its wireless and service sectors, leading to $508 million in profits.

Revenue on the wireless front grew by 7 percent through roaming revenue and growth in its postpaid mobile subscriber count. Rogers’ added 193,000 postpaid customers, increasing its base by 37 percent year-over-year. It’s 5G network expansions played a role. The network reaches more than 1,900 communities as of December 31st, 2022.

Equipment revenue on the wireless front also increased by 6 percent as customers shifted towards higher-value smartphones.

However, the same success is not reported on the prepaid side, with the loss of 7,000 subscribers. Rogers didn’t have success with new internet subscribers either. The company only added 7,000 new net customers, a 14 percent decrease compared to last year.

Looking at Rogers’ full year, the company grew its post-paid mobile phone base by 545,000 subscribers, the “strongest results since 2007,” the company said in its financial results. The growth comes the same year as the Rogers outage that left thousands without wireless and wireless services.

The news comes as Rogers, Shaw, and QuĂ©becor expanded their self-imposed deadline to conclude their mergers. The companies are still waiting for Innovation Minister François-Philippe Champagne to approve the transfer of Shaw’s wireless licenses to VidĂ©otron.

“We’ve entered into transactions that will allow the buyer of Freedom to enhance their competitive ability,” Tony Staffieri, Rogers’ CEO, said during a conference call discussing the results. “We’re confident we have what we need to be able to compete in a four-player market just as we’ve done in the past.”

Updated 02/02/2023 10:18am ET: The figure outlining the increase of mobile subscribers has been corrected.

Source: Rogers

Comments