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Rogers Communications Inc. Sees Revenue Soar Despite Profit Dip in Fourth Quarter Report

Navigating Profit Challenges: A Closer Look at Rogers Communications Inc.*s Financial Results for Q4 2023


Published Mar 08 2024 / Modified Mar 08 2024
CSIMarket Team / CSIMarket.com


StudioBy_Ed_Schipul_(www.flickr.com_photos_eschipul_4239384946)__[CC-BY-SA-2.0_(http_creativecommons.org_licenses_by-sa_2.0)]_via_Wikimedia_CommonsRogers Communications Inc.
(RCI) recently announced its financial results for the most recent fiscal period, revealing a drop in net profit per share but a significant increase in revenue.
During the financial interval ending December 31,
2022, RCI's net profit per share plummeted from $3.04 to $1.24 per share.
However, despite this decline, the Broadcasting Media & Cable TV company saw a 28.097% rise in revenue during the same period.

The sequential analysis of RCI's financial performance showed a similar trend.
Earnings for the financial timeframe ending December 31, 2023, amounted to $650.334 million, reflecting a decrease of -58.44% compared to $1,564.938 million in the corresponding period a year before.
This decline in earnings prompted RCI to shift its focus on improving sales during the same timeframe.

Rogers Communications Inc.'s net margin also experienced a slight ease to 4.4% due to the focus on sales improvement.
Operating earnings fell -50.42% to $1,046.356 million, resulting in a decrease in the operating margin from 18.28% in Q4 2019 to 7.07% in the financial period ending December 31, 2023.

Looking at RCI's results for the entire financial year of 2023, the company reported revenue of $14.79 billion and earnings of $650.33 million.
Additionally, income per share decreased by -59.19% to $1.24 per share from $3.04 in the prior financial year.
However, the company saw a substantial increase in revenue, amounting to 28.1% growth from $11.55 billion in the previous year.

Rogers Communications Inc.
is expected to release its next financial earnings report on March 4, 2025.
The company highlighted that its record 2023 results were driven by strong execution on the Shaw acquisition, combined with industry-leading performance, as more Canadians chose Rogers as their preferred carrier for the second consecutive year.

In recent news, Rogers Communications Inc.
announced the successful pricing of a public offering for two series of US dollar senior notes, raising a total of US$2.5 billion.
The proceeds from this offering are expected to be approximately US$2.46 billion and will be used to repay certain outstanding debts, including borrowings from the company's term loan facility, which were utilized for the acquisition of Shaw Communications Inc.

Despite some fluctuations, Rogers Communications Inc.
shares have declined by -5.32% over the past year, with a year-to-date performance of -4.28%. Currently, the company's shares are trading on the NYSE at 0.9% above its 52-week average.



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