Rogers Communication, Inc. shares are trading relatively flat on Thursday.

In U.S. dollars, the company reported fourth quarter adjusted earnings per share of $1.04, missing the street view of $1.36. Quarterly sales of $3.92 billion missed the analyst consensus estimate of $5.39 billion.

In Canadian dollars, earnings per share were C$1.02, up 65% year over year, and adjusted earnings per shares were C$1.46.

Wireless service revenue increased by 2% this quarter, primarily as a result of the cumulative impact of growth in mobile phone subscriber base over the past year.

Wireless equipment revenue increased by 9%, primarily as a result of an increase in subscribers purchasing higher-value devices. Cable service revenue was stable this quarter, improving sequentially from the third quarter and from the prior year.

The company declared a quarterly dividend totaling 50 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares. The declared quarterly dividend will be paid on April 2.

Also Read: Ryan Cohen Moves 36.8 Million GameStop Shares To Personal Name, Sparking Speculation On Next Steps

Media revenue increased by 10% this quarter, primarily as a result of higher sports- and entertainment-related revenue, but lower than expectations as previously announced.

Consolidated adjusted EBITDA increased 9% and adjusted EBITDA margin increased by 250 basis points, primarily as a result of ongoing productivity and cost efficiencies.

As at December 31, the company had C$4.8 billion of available liquidity (December 31, 2023 – C$5.9 billion), including C$0.9 billion in cash and equivalents.

“The fourth quarter caps three straight years of industry-leading results,” said Tony Staffieri, President and CEO. “As I look to the year ahead, our 2025 outlook reflects continued growth, strong free cash flow, and investment in our core businesses.”

Outlook: For FY25, the company sees total service revenue to increase 0% to 3%.

"In 2025, we expect to have the financial flexibility to maintain our network advantages and to continue to return cash to shareholders," the company said.

Price Action: RCI shares are trading higher by 0.97% to $29.03 at last check Thursday.

Read Next:

EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In 2024 — Where Do Tesla, Nvidia, GameStop, Trump Media Stocks Rank?