Rogers Communications Touts 36% Surge In Q3 Revenue, Credits Subscriber Growth
Portfolio Pulse from Akanksha Bakshi
Rogers Communications Inc (NYSE:RCI) reported a 36% YoY increase in Q3 revenue to $3.6 billion, with total service revenue growing 40% YoY. The company saw a 15% increase in wireless service revenue and a 105% increase in cable service revenue, largely due to the acquisition of Shaw. The company also declared a quarterly dividend of 50 cents on each of its outstanding Class B Non-Voting shares and Class A Voting shares. RCI shares are trading higher by 4.03% at $41.73.
November 09, 2023 | 4:57 pm
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Rogers Communications reported strong Q3 results with significant revenue growth across multiple segments. The company also declared a quarterly dividend, indicating a positive financial position.
The strong Q3 results, including significant revenue growth across multiple segments, indicate a positive financial performance by Rogers Communications. The declaration of a quarterly dividend also suggests a strong financial position. These factors are likely to have a positive impact on the company's stock price in the short term.
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RELEVANCE 100