Rogers Communications reported a substantial increase in its first-quarter profit for the fiscal period ending March 31, 2026, supported by strong performance in its service and media divisions. The Canadian telecommunications provider also updated its financial outlook for the remainder of the year, signaling a shift toward higher cash generation and reduced capital spending.
For the first quarter, Rogers posted net income of 482 million Canadian dollars ($352.8 million), or C$0.80 per share. This represents a significant rise from the C$280 million, or C$0.50 per share, recorded in the same period of the previous year. On an adjusted basis, earnings reached C$1.01 per share, a figure that aligned with the consensus estimates provided by analysts surveyed by FactSet.
Total revenue for the quarter climbed 10% to C$5.48 billion, surpassing the C$5.44 billion anticipated by market analysts. This growth was primarily fueled by a 10% increase in service revenue, reflecting steady demand across its core wireless and wireline offerings. The company’s media segment also showed a marked improvement, with revenue rising to C$988 million from C$542 million in the prior year’s first quarter.
In terms of operational metrics, Rogers added 33,000 total mobile phone subscribers during the quarter. This total included 28,000 postpaid additions, which significantly exceeded analyst expectations of 6,800. Additionally, the company reported 7,000 new retail internet connections. These figures contrasted with analyst projections, which had also factored in approximately 4,700 prepaid additions. The subscriber growth comes as the company continues to integrate its expanded network footprint.
Alongside its quarterly results, Rogers Communications adjusted its financial guidance for the full 2026 fiscal year. The company now expects its annual cash expenditures to fall within a range of C$2.5 billion to C$2.7 billion. This is a downward revision from the previously issued guidance of C$3.3 billion to C$3.5 billion.
As a result of the lower projected spending, the company raised its expectations for free cash flow. Rogers now forecasts full-year free cash flow to be between C$4.1 billion and C$4.3 billion, up from the earlier projection of C$3.3 billion to C$3.5 billion. Management indicated that the revised outlook is a direct result of disciplined capital allocation and the realization of synergies from previous infrastructure investments. The company stated that it remains focused on balancing network investments with debt reduction throughout the remainder of the fiscal year.