Rogers reports financial, wireless subscriber, growth in first earnings report post Shaw acquisition

Rogers Communications earned $3.8 billion in revenue in the first quarter of 2023.

Revenue from its services saw a 4 percent increase compared to the first quarter of 2022, and growth in wireless service revenue (up 7 percent year over year) played a role.

This was primarily due to higher revenue from roaming services due to increased travel. Rogers also reports its net postpaid mobile subscriber count grew by 95,000, increasing the figure by 29,000 year over year. Revenue from wireless equipment also increased by 22 percent, mainly due to device upgrades.

While this is the company’s first quarterly release post-Shaw acquisition, the numbers don’t include figures from Shaw. Rogers received final approval on April 3rd, which also saw Québecor subsidiary Vidéotron acquire Freedom Mobile.

Rogers has attained half a million Shaw Mobile subscribers. The company has also acquired 2 million Fibre+ subscribers, nearly 1.7 million video subscribers, and almost 1 million home phone subscribers.

Rogers has agreed to provide Québecor with certain services, including allowing Freedom subscribers to access Shaw’s business “Go Wi-Fi” hotspots.

Rogers CEO Tony Staffieri said one of his top priorities post-acquisition is to “finalize my executive leadership team.” The move has seen the hiring of former ISED Minister Navdeep Bains as Chief Corporate Affairs Officer. “These leaders and their energized teams will play a critical role in our growth agenda,” Staffieri said during the Q1 2023 conference call. 

As of March 31st, Rogers reached 2,000 communities across Canada. In the last quarter, it also activated 24,000 mobile services plans for newcomers at airports in Montreal, Calgary and Toronto.