Rogers revenue beats on wireless, media business strength By Reuters

© Reuters. FILE PHOTO: Ethernet cables are seen in front of Rogers Communications logo in this illustration taken, July 8, 2022. REUTERS/Dado Ruvic/Illustrations

(Reuters) -Canadian telecom operator Rogers (NYSE:) Communications Inc beat revenue estimates for fourth quarter on Thursday, boosted by strength in its wireless and media businesses.

Rogers’ push to expand its 5G network and bundled subscriber plans has helped it win customers from rivals in a competitive market where wireless charges are among the highest in the world.

The company added 193,000 monthly bill paying wireless phone subscribers in the fourth quarter, indicating robust demand for its 5G services. In the last quarter, it added 164,000 users.

Rogers’ media business, which includes TV and radio properties, gained as advertising spending jumped during the holiday quarter.

Total revenue increased 6% to C$4.17 billion ($3.14 billion) in the quarter ended Dec. 31, inching past analysts’ average estimate of C$4.15 billion, according to Refinitiv data.

(1 Canadian dollar = $0.7530)

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