TORONTO — Rogers Communications posted fourth-quarter revenue above market expectations, driven by a sharp increase in its Media segment as the company leaned on sports programming and new channel launches to offset a slower wireless market.
Rogers reported total revenue of C$6.172 billion for the quarter ended Dec. 31, 2025, up 13% from a year earlier, while total service revenue rose 16% to C$5.250 billion.
Rogers revenue beat as sports media lifts results
Analysts had expected revenue of about C$5.98 billion, according to LSEG data cited in a report that also highlighted Media as the key driver of the quarterly upside.
Adjusted EBITDA rose 6% to C$2.689 billion. Net income attributable to Rogers shareholders increased to C$743 million, and adjusted diluted earnings per share rose to C$1.51.
Media and sports surge on Blue Jays, MLSE and new channels
Rogers said Media revenue increased 126% to C$1.236 billion, reflecting revenue from Maple Leaf Sports & Entertainment (MLSE) following the closing of the MLSE transaction on July 1, the Toronto Blue Jays’ postseason run, and higher advertising and subscriber revenue tied to the launch of Warner Bros. Discovery channels.
Media adjusted EBITDA rose to C$221 million from C$55 million a year earlier, as higher revenues outweighed increased programming and game-day costs.
Telecom results mixed as subscriber adds slow
In Wireless, Rogers reported 39,000 total mobile phone net additions in the quarter, including 37,000 postpaid subscribers, while postpaid churn improved to 1.43%. The company said wireless service revenue was in line with the prior year amid competitive pressure and a less active market.
In Cable, quarterly revenue was essentially flat at about C$2.0 billion, while adjusted EBITDA rose 1% and the segment posted 22,000 retail internet net additions.
2026 outlook points to higher cash flow and lower capex
For 2026, Rogers guided for total service revenue growth of 3% to 5% and adjusted EBITDA growth of 1% to 3%. It forecast capital expenditures of C$3.3 billion to C$3.5 billion and free cash flow of C$3.3 billion to C$3.5 billion, citing capital efficiency as it continues to invest in its networks and sports assets.
The results position Rogers to keep expanding its sports-and-media footprint while navigating a maturing telecom market where pricing and subscriber growth have become harder to sustain.
