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Rogers' fourth-quarter subscription additions misses estimates
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Rogers' fourth-quarter subscription additions misses estimates
Jan 30, 2025 4:39 AM

Jan 30 (Reuters) - Canada's Rogers Communications ( RCIAF )

said on Thursday it added fewer-than-expected

quarterly wireless subscriptions, amid an intense pricing war

between rivals and lower immigrations.

The company added 69,000 monthly bill-paying wireless phone

subscribers in the fourth quarter, compared with estimates of

72,380, according to analysts polled by Visible Alpha.

Amid intense competition in Canada's wireless industry, BCE

and Telus ( TU ) lowered prices for wireless and

wireline broadband to put pressure on Rogers and Quebecor ( QBCAF )

, which has led to a price war.

Canada is also undergoing a notable shift in policy,

welcoming less immigrants and students in the country than it

historically has. This is expected to impact demand for the

country's carriers, which have relied on newcomers to expand its

customer base.

The company reported net income of C$558 million ($387.07

million) for the quarter ended Dec. 31, compared with C$328

million ($227.52 million), a year ago.

($1 = 1.4416 Canadian dollars)

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