07:52 AM EDT, 10/23/2025 (MT Newswires) -- Rogers Communications (RCI-B.TO, RCI-A.TO) said Thursday that its third-quarter adjusted net income fell slightly as revenue advanced, due to a strong showing in the media segment. Both beat estimates.

Adjusted net income attributable to shareholders fell 3% to $740 million, or $1.37 per adjusted diluted share, from $762 million, or $1.42 per share, in the prior year period. The results beat the consensus analyst estimate of $1.23 per share, according to FactSet.

Quarterly revenue increased 4% to $5.35 billion over the same period, beating the $5.3 billion forecast. Rogers reported increased revenue in its wireless, media and cable segments, but said the primary growth was in media, which jumped 26%, as a result of revenue from MLSE and the success of the Toronto Blue Jays.

The company has also trimmed its debt leverage ratio to 3.9x after acquiring an additional 37.5% stake in MLSE in the third quarter.

Rogers reaffirmed its 2025 service revenue growth of 3% to 5%; adjusted EBITDA growth of 0% to 3%; capital expenditures of $3.7 billion; and free cash flow of $3.2 billion to $3.3 billion.

The company will pay a regular quarterly dividend of $0.50 per share, on Jan. 2.

"In the third quarter, we delivered industry-leading combined wireless and internet subscriber growth, underpinned by our lowest churn in over two years and healthy margins in wireless and cable," said chief executive Tony Staffieri.

"Our media and sports business also drove strong double-digit revenue growth, highlighting our world-class assets and the opportunity to unlock value for shareholders," he added.