financetom
Business
financetom
/
Business
/
Canada's Rogers lifts annual service revenue forecast on Maple Leaf Sports boost
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canada's Rogers lifts annual service revenue forecast on Maple Leaf Sports boost
Jul 23, 2025 5:58 AM

July 23 (Reuters) - Rogers Communications ( RCIAF ) has

raised its annual service revenue forecast, banking on a boost

from its stake acquisition in Maple Leaf Sports, which owns the

Toronto Raptors basketball team and NHL's Toronto Maple Leafs,

as it bets on live sports.

The Canadian wireless giant said on Wednesday it expects

full-year total service revenue to grow in the range of 3% to

5%, compared with its prior forecast of a 0% to 3% growth.

Rogers controls 75% of Maple Leaf Sports &

Entertainment, after it bought rival

Bell's stake

in the sports firm.

Within the broader media industry, live sports has shone

in the U.S. and Canada as hardcore fans rush to various

platforms to watch their favorite teams play, despite

consumer pricing

uncertainty arising from shifting global trade policies.

Rogers has made big bets on growing its presence in the

country by signing deals with sports leagues, including a

12-year agreement worth C$11 billion to secure media rights for

Canada's NHL games.

The company's media revenue rose 10% in the second

quarter, helped by higher sports-related revenue from the NHL

playoffs and the launch of Warner Bros Discovery's ( WBD ) suite

of television channels.

It reported quarterly revenue of C$5.22 billion ($3.84

billion), beating analysts' average estimate of C$5.18 billion,

according to data compiled by LSEG.

The company has also been benefiting from its expanding 5G

coverage across Canada as well as the offers on its flexible

mobile plans, even as competition from rivals BCE and

Telus ( TU ) intensifies.

Rogers added 35,000 monthly postpaid bill-paying

wireless phone subscribers during the quarter, just shy of

estimates of 35,640 additions, according to analysts polled by

Visible Alpha.

($1 = 1.3586 Canadian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved