Rogers Taps 3800 MHz In Canada's Third 5G Spectrum Auction: Details
Portfolio Pulse from Lekha Gupta
Rogers Communications Inc (NYSE:RCI) has acquired 3800 MHz spectrum in Canada's third 5G auction, enhancing its 5G network with more coverage, speed, and capacity. This acquisition complements its existing 3500 MHz 5G spectrum and aims to extend coverage to rural and Indigenous communities. The company has a history of reinvesting profits into Canada, with over $40 billion invested since 1985. RCI's commitment to building a robust 5G network is reflected in its recent activation of 5G service in the TTC subway system. RCI reported a 36% year-over-year revenue growth in Q3, with C$5.09 billion in revenue and C$2.53 billion in cash reserves. RCI's stock price saw a 2.01% increase to close at $43.10 on Thursday.
December 01, 2023 | 11:43 am
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POSITIVE IMPACT
Rogers Communications Inc acquired 3800 MHz spectrum to enhance its 5G network, complementing its existing 3500 MHz spectrum and extending coverage. The company's commitment to infrastructure investment is evident, with significant revenue growth and a positive stock price movement.
The acquisition of the 3800 MHz spectrum is a strategic move that directly impacts Rogers Communications' ability to provide enhanced 5G services. This is likely to be viewed positively by investors as it demonstrates the company's commitment to improving its network infrastructure and staying competitive in the telecommunications industry. The recent revenue growth and positive stock price movement further support the potential for a short-term positive impact on RCI's stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100