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Rogers Communications adds lower-than-expected subscriptions amid immigration changes

Release Date
2025-04-23
Media
Reuters
Summary
Rogers Communications reported lower-than-expected wireless subscriber growth for Q1 2024, adding only 11,000 monthly bill-paying users versus analysts' forecast of 17,390. The shortfall is attributed to Canada's stricter immigration policies, which have reduced the influx of newcomers—a key source of customer growth for telecom companies.

CEO Tony Staffieri also cited decreased U.S. travel and a competitive, slow-growth market, with aggressive price wars eroding margins. Despite this, Rogers recently secured a 12-year, C$11 billion NHL media rights deal, aiming to capitalize on strong sports viewership as traditional media declines.

Wireless revenue reached C$2.54 billion, slightly below estimates, while total revenue matched expectations at C$4.98 billion.
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