Rogers reported a dip in profit for the third quarter of 2025, even as it added more mobile and internet customers and saw strong performance in its media and sports business.
The company posted $726 million in adjusted net income, down 5% from $762 million a year earlier. Total revenue climbed 4% to $5.35 billion, up from $5.13 billion in Q3 2024, helped by steady wireless and cable results and a surge in media revenue.
On the wireless side, Rogers added 111,000 total subscribers, including 62,000 postpaid and 49,000 prepaid users. Postpaid churn dropped to 0.99%, its lowest level in more than two years. However, average monthly revenue per user (ARPU) declined to $56.70, down from $58.57 last year, reflecting tougher competition and promotional pricing. Wireless service revenue reached $2.059 billion, flat compared to the year-ago quarter, while adjusted EBITDA for the segment rose 1% to $1.4 billion.
In its cable division, revenue grew 1% to $1.981 billion, with adjusted EBITDA up 2% to $1.153 billion, driven by demand for high-speed internet. Rogers added 29,000 new internet subscribers, bringing its total to about 4.48 million across Canada.
Media was a bright spot, with revenue jumping 26% to $753 million and adjusted EBITDA hitting $75 million, bolstered by the company’s sports assets under Maple Leaf Sports & Entertainment (MLSE).
“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 Tony Staffieri, President and CEO. “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.”
Rogers expects to generate between $3.2 and $3.3 billion in free cash flow for the year, which will help reduce debt following major acquisitions, including its $4.7 billion purchase of Bell’s stake in MLSE earlier this year.
Shares of Rogers (RCI.B) were trading around $53.62 on Thursday, up 2.7% for the day and roughly 9.7% higher over the past month.
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