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Rogers Reports Net Loss for Q3 Despite Revenue Increase

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Rogers Reports Net Loss for Q3 Despite Revenue Increase

Rogers Communications Inc. announced its financial results for the third quarter, revealing a net loss of $99 million. The loss was attributed to higher finance costs and expenses related to the acquisition of Shaw Communications Inc. However, the company experienced a significant increase in consolidated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), which rose by 52% to $2.41 billion. Total revenue also saw a substantial growth of 36% to reach $5.09 billion compared to the previous year. Adjusted diluted earnings per share rose to $1.27 from $0.84 in the third quarter of 2022. Despite the net loss, Rogers' strong revenue performance and increased EBITDA indicate positive growth for the company. The acquisition of Shaw Communications Inc. likely contributed to the higher costs but presents long-term strategic opportunities for Rogers. The significant revenue increase reflects the successful execution of business strategies and the company's ability to adapt to changing market dynamics. Moving forward, Rogers will continue to focus on optimizing its operations and leveraging its expanded network capabilities. The company remains committed to delivering exceptional services to its customers while driving sustainable growth and shareholder value. Source: [National Post](https://nationalpost.com/pmn/business-pmn/rogers-reports-net-loss-for-q3-despite-jump-in-revenue)

A Hot Take on Rogers' Q3 Financial Results

Rogers Communications Inc.'s Q3 financial results offer an intriguing perspective for new businesses. Despite reporting a net loss of $99 million, largely due to higher finance costs and expenses from its Shaw Communications Inc. acquisition, Rogers saw a significant revenue increase. This dichotomy underscores the complex nature of business growth and expansion. For new businesses, Rogers' situation serves as a reminder that strategic moves, like acquisitions, can initially lead to increased costs and potential losses. However, they can also open up long-term opportunities, as evidenced by Rogers' substantial revenue growth and increased EBITDA. Rogers' ability to boost its revenue amidst a net loss demonstrates the importance of adaptability and strategic planning in business. It highlights how companies can leverage acquisitions and operational optimization to drive growth, even in challenging financial circumstances. In essence, Rogers' Q3 results paint a picture of resilience and strategic foresight. For new businesses, this serves as a lesson in navigating the complexities of growth, reminding them that short-term losses can potentially lead to long-term gains.
Story First Published at: https://financialpost.com/telecom/rogers-reports-net-loss-despite-revenue-jump
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