Rogers Communications Withdraws 2020 Financial Guidance - Quick Facts

(RTTNews) - Rogers Communications Inc. (RCI.TO, RCI) has decided to withdraw the financial guidance it originally issued on January 22, 2020. The company noted that, although it expects COVID-19 to adversely impact total service revenue and adjusted EBITDA in the short-term, strong free cash flow remains a priority for Rogers in the current year.

First-quarter adjusted earnings per share was C$0.71 compared to C$0.78, previous year. Total revenue decreased 5% to C$3.42 billion, largely driven by a 17% decrease in Wireless equipment revenue, as a result of lower subscriber activity surrounding the COVID-19 pandemic, and a 3% decrease in total service revenue. Total service revenue declined 3 percent to C$3.05 billion.