Rogers Communications had lower subscriber additions due to immigration changes

From Yahoo Finance: 2025-04-23 07:29:00

Rogers Communications saw lower-than-expected quarterly subscriber additions due to Canada’s immigration policies and reduced travel to the U.S. Analysts expected 17,390 new subscribers, but only 11,000 were added. CEO Tony Staffieri cited immigration restrictions and lower U.S. travel as factors. Rogers faces tough competition from Telus and BCE.

To combat competition, Rogers secured a 12-year, C$11 billion deal for NHL media rights in Canada. This move comes as the company invests heavily in Canadian sports to offset declining traditional media. The wireless segment, which brings in half of Rogers’ revenue, collected C$2.54 billion in the first quarter, slightly below estimates.

Despite facing challenges in subscriber growth, Rogers reported revenue of C$4.98 billion in the first quarter, meeting estimates. CEO Tony Staffieri noted that the company will likely not be significantly impacted by U.S. tariffs, as most suppliers are within Canada. Analysts point to the immigration crackdown as a “demand shock” for the telecom sector.



Read more at Yahoo Finance: Rogers Communications adds lower-than-expected subscriptions amid immigration changes