Rogers Communications (RCI-B.TO, RCI-A.TO) on Thursday said fourth-quarter adjusted profit advanced 26% as revenue rose slightly.
Adjusted profit climbed to $794 million, or $1.46 per diluted share, a 26% increase from $630 million, or $1.19 per diluted share, the previous year. The result beat the consensus FactSet forecast of $1.26 per share.
Total revenue rose 3%, to $5.5 billion, beating FactSet's estimate of $5.4 billion. Service revenue of $4.5 billion was 2%higher. The increase for both was driven by revenue growth in the Wireless and Media segments, Rogers said.
For 2025, Rogers is guiding for 0% to 3% total service revenue growth.
Rogers is still waiting on sports league and CRTC approvals for its $4.7 billion acquisition of Bell's (BCE.TO) 37.5% stake in Maple Leaf Sports & Entertainment. The telco, which obtained Competition Bureau clearance last month, expects financing for the transaction will include private investors.
Rogers also provided an update on a proposed $7 billion structured equity investment with an unnamed investor, first announced last October. If completed, the investor would acquire a minority stake in a subsidiary that will own part of Rogers' wireless backhaul transport infrastructure, with Rogers continuing to maintain operational control. Completion is subject to entering into binding definitive documentation with the investor.
The company will pay a regular quarterly dividend of $0.50 per share on April 2.
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