The company reported a net loss of C$665 million for the second quarter, a stark reversal from the C$148 million profit recorded during the same period last year. Despite the headline loss, underlying performance remained resilient. On an adjusted basis, earnings reached C$1.15 per share, narrowly beating the C$1.13 consensus forecast from analysts surveyed by FactSet. Revenue climbed 8% to C$5.62 billion, fueled by a robust performance in service revenue, which contributed C$5.1 billion to the total.
In section Market Quotes
Rogers Swings to Loss After Massive MLSE Buyout Charge
A 1.03 billion Canadian dollar accounting adjustment triggered a sharp quarterly deficit for Rogers Communications, overshadowing the telecom giant's steady revenue growth. The charge stems directly from the company's move to secure full ownership of Maple Leaf Sports & Entertainment, the powerhouse behind the Toronto Maple Leafs and Raptors.
Subscriber growth provided further stability, with the company onboarding 40,000 new mobile phone users—including 22,000 postpaid additions—alongside 17,000 new retail internet customers. This financial snapshot comes ahead of the expected fourth-quarter closing of the MLSE deal. Rogers is paying C$4.35 billion to acquire the remaining 25% stake from Larry Tanenbaum’s Kilmer Sports, a transaction that will grant the firm absolute control over a portfolio that also includes Toronto FC and the Toronto Argonauts.
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