Free Research Report as Rogers Communications' Quarterly Earnings Increased 11.46%

LONDON, UK / ACCESSWIRE / July 26, 2018 / If you want access to our free earnings report on Rogers Communications Inc. (NYSE: RCI) ("RCI"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RCI. The Company reported its financial results on July 19, 2018, for the second quarter of the fiscal year 2018, ended June 30, 2018. The Company delivered a strong second quarter with solid financial and operating results, led by exceptional results in its Wireless segment. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Rogers Communications most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=RCI

Earnings Highlights and Summary

It must be noted that RCI adopted the IFRS 15, 'Revenue from contracts with customers', effective from January 01, 2018. The Company's reported figures for 2017 have also been restated applying the new revenue recognition standard IFRS 15.

For Q2 FY18, RCI's total revenues reached C$3.76 billion, reflecting an increase of 3.76% from C$3.62 billion in Q2 FY17. During the quarter under review, the Company's total service revenues increased 2% to C$3.30 billion from C$3.22 billion in the prior year's same quarter.

RCI incurred operating costs of C$2.25 billion in Q2 FY18, 0.94% higher than C$2.23 billion in Q2 FY17. The Company's depreciation and amortization expenses jumped 1.87% to C$545 million in the reported quarter from C$535 million in the prior year's comparable quarter. Moreover, the Company incurred finance costs of C$193 million in Q2 FY18 compared to C$189 million in Q2 FY17, reflecting an increase of 2.12%. RCI's income before income taxes was C$738 million in the quarter ended June 30, 2018, up 3.80% from C$711 million in the corresponding period of last year. On a non-GAAP basis, the Company had adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of C$1.50 billion in Q2 FY18, reflecting an increase of 8.28% from C$1.39 billion in Q2 FY17. The Company's EBITDA margin also improved 1.60% to 40% in the reported quarter.

RCI reported a net income of C$538 million in the quarter ended June 30, 2018, representing an increase of 1.89% from C$528 million in the same period of last year. The Company's diluted earnings per share (EPS) also jumped 1.96% to C$1.04 in Q2 FY18 from C$1.02 in Q2 FY17. The Company's reported results included restructuring, acquisition, and other charges, and related income tax impact. Excluding special items, RCI had adjusted diluted EPS of C$1.07 in the reported quarter, up 11.46% from C$0.96 in the prior year's comparable quarter; surpassing analysts' consensus estimates of C$1.05 per share.

Segment Details

During Q2 FY18, RCI's Wireless segment generated net revenues of C$2.21 billion, up 6.65% on a y-o-y basis. The growth in the Wireless segment was a result of the Company's balanced approach to continue monetizing the increasing demand for data, along with attracting a desirable mix of subscribers to its brands. The segment’s adjusted EBITDA were C$1.03 billion in Q2 FY18, reflecting an increase of 12.46% from C$915 million in Q2 FY17. For the quarter under review, RCI added 122,000 net postpaid wireless subscribers compared to 93,000 in the year earlier same quarter. This was the Company's highest second quarter postpaid net additions in 9 years. RCI's average wireless customer paid 4% more per month at C$64.80 in Q2 FY18.

RCI's Cable segment reported revenues of C$991 million in Q2 FY18, an increment of 1.54% from the previous year's comparable quarter. Internet revenue growth of 10% continued to drive the Cable segment and the Company's ability to offer Ignite Gigabit Internet over its entire Cable footprint continued to be the main differentiator. The segment's adjusted EBITDA were C$462 million in the reported quarter compared to C$455 million in the prior year's corresponding quarter, reflecting an increase of 1.54%. During Q2 FY18, RCI made Internet net additions of 23,000, up 10,000 from Q2 FY17; and was the highest second quarter Internet net additions since 2005.

RCI's Media segment's revenues fell 4.55% to C$608 million in Q2 FY18 from C$637 million in Q2 FY17. The segment's adjusted EBITDA rose 1.69% to C$60 million in the quarter under review from C$59 million in the year ago same quarter.

Cash Matters

RCI had a long-term debt of C$13.60 billion as on June 30, 2018, reflecting an increase of 7.15% from C$12.69 billion as on December 31, 2017.

RCI's cash provided by operating activities was C$1.05 billion in the quarter ended June 30, 2018, 27.34% higher than C$823 million in the comparable period of last year. The Company had a free cash flow of C$562 million in the reported quarter compared to C$607 million in the year ago corresponding quarter, reflecting a decrease of 7.41%.

RCI incurred a capital expenditure of C$657 million in Q2 FY18, 45.68% higher than C$451 million in Q2 FY17.

RCI distributed dividends of C$247 million in Q2 FY18, flat compared to the prior year's same quarter.

Stock Performance Snapshot

July 25, 2018 - At Wednesday's closing bell, Rogers Communications' stock marginally dropped 0.26%, ending the trading session at $49.70.

Volume traded for the day: 265.08 thousand shares.

Stock performance in the last month - up 7.37%; previous three-month period - up 5.25%; and past six-month period - up 0.61%

After yesterday's close, Rogers Communications' market cap was at $25.92 billion.

Price to Earnings (P/E) ratio was at 18.41.

The stock has a dividend yield of 2.94%.

The stock is part of the Technology sector, categorized under the Wireless Communications industry. This sector was up 1.2% at the end of the session.

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