Benzinga | Apr 21, 2021 07:10AM EDT

Recap: Rogers Communications Q1 Earnings



Shares of Rogers Communications (NYSE:RCI) rose 2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 15.09% year over year to $0.61, which beat the estimate of $0.60.

Revenue of $2,754,000,000 up by 8.08% year over year, which missed the estimate of $2,760,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Rogers Communications hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Apr 21, 2021

Time: 08:00 AM

ET Webcast URL: https://investors.rogers.com/

Technicals

Company's 52-week high was at $52.84

52-week low: $37.84

Price action over last quarter: Up 8.07%

Company Description

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for over 60% of the company's total sales in 2020 and has increasingly provided a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about one fourth of total sales, offers home Internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays. Rogers' significant exposure to sports also includes ownership stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.