TORONTO — It was a Q2 that saw Canada’s largest multimedia company report “strong financial performance delivering growth” its Wireless, Cable and Media divisions, Rogers Communications President/CEO Tony Staffieri shared on Wednesday. “Combined with our team’s strong execution, we took meaningful steps to unlock value for shareholders by accelerating the deleveraging of our balance sheet and making our transformational investment in our world-class sports assets.”
For the Media arm, the presence of the Edmonton Oilers in a second consecutive Stanley Cup Finals along with new Warner Bros. Discovery Canadian content distribution agreements in place are the chief analysts for the uptick in dollars.
In fact, Media revenue grew by 10%, moving to $808 million CDN from $736 million CDN as adjusted EBITDA came in at $5 million CDN, up from zero a year ago.
But, Media is the No. 3 revenue arm for Rogers, which saw its biggest dollar-generator, its Wireless division, see revenue grow to $2.54 billion CDN from $2.47 billion CDN.
The Cable division saw flat revenue of $1.97 billion CDN, up by roughly $100,000 CDN.
Total service revenue was $4.67 billion CDN, up 2%, while net income attributable to Rogers shareholders slipped to $620 million CDN ($1.14 per diluted share), from $623 million ($1.16) on an adjusted basis. But, this beat the Zacks Consensus Estimate on EPS by a few pennies.
For the Media division, some 16% year-to-date revenue growth was seen for Rogers. This is directly related to the 2024-2025 National Hockey League season being a fruitful one for ad sales. Then, there is Rogers’ ownership of the Toronto Blue Jays, currently in the American League East after a two-month surge in victories. But, the biggest takeaway is higher revenue related to the launch of a new Canadian suite of channels with programming from Warner Bros. Discovery. The rights were previously held by struggling competitor Corus Entertainment.
While the Q2 2025 results didn’t lead to a positive morning on the TSX for Rogers’ shares, investors can celebrate some 13.3% growth in value over the last six months. In fact, Rogers stock is at its highest price since mid-December 2024.
Shareholders can also take note of a 50 cents per share (CDN) dividend payable to stock holders of record on September 8. The dividend is payable on October 3.
