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Rogers Posts Q2 Loss as It Takes Charge Related to MLSE Deal
Adjusted earnings of 83 cents per share topped Wall Street estimates as Rogers booked a $1.03 billion charge tied to its planned MLSE purchase.
- On Wednesday, Rogers Communications Inc. reported a second-quarter loss of $524.4 million, yet surpassed adjusted earnings expectations with $1.15 per diluted share, beating Wall Street revenue forecasts.
- A $1.03-billion non-cash accounting charge related to the company's planned acquisition of Maple Leaf Sports and Entertainment drove the net loss of $665 million for the quarter.
- Revenue totaled $5.62 billion, an 8 per cent increase year-over-year, while media revenue surged 53 per cent due to Toronto Blue Jays contributions and the company added 40,000 net new wireless subscribers.
- Rogers declared a quarterly dividend of 50 cents per share payable October 2, 2026, while maintaining $6.1 billion in available liquidity as of June 30 to support strategic investments.
- By the end of 2026, Rogers expects to finalize its $4.35-billion acquisition from Kilmer Sports Inc., with analysts seeing potential for balance-sheet improvement as telecoms deleverage next year.
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28 Articles
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·Los Angeles, United States
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After inking MLSE deal, Rogers fields interest from potential minority investors
As potential minority investors line up for a slice of the pie that is Rogers Communications Inc.'s newly formed Toronto sports empire, the telecommunications giant has a simple message: Don't expect discounts. Rogers is set to own the entirety of Maple Leaf Sports and Entertainment after announcing...
·Kelowna, Canada
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Total News Sources28
Leaning Left6Leaning Right3Center13Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 27%
C 59%
14%
Factuality
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