Rogers Communications Q2 Revenue Jumps 30%, Boosts FY23 Adj. EBITDA Growth Outlook
Portfolio Pulse from Lekha Gupta
Rogers Communications Inc (NYSE:RCI) reported a 30% Y/Y increase in Q2 FY23 revenue to C$5.05 billion. The company also saw a 32% Y/Y growth in total service revenue to C$4.53 billion, largely due to higher revenue growth in the Cable and Wireless businesses. Adjusted EBITDA increased 38% Y/Y to C$2.19 billion. The company declared a quarterly dividend of C$0.50 on each of its outstanding Class B Non-Voting shares and Class A Voting shares. RCI revised its FY23 outlook for adjusted EBITDA growth to 33%-36% and free cash flow to C$2.20 billion-C$2.50 billion.
July 26, 2023 | 4:44 pm
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Rogers Communications reported strong Q2 FY23 results with significant Y/Y growth in revenue and adjusted EBITDA. The company also revised its FY23 outlook upwards.
The strong Q2 FY23 results and the upward revision of the FY23 outlook indicate a positive financial performance for Rogers Communications. This is likely to have a positive impact on the company's stock price in the short term.
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