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RCI - Rogers Communications: Is Its Wireless Business Decelerating?
Rogers Communication Inc.
Investment Thesis
Rogers Communications’ (RCI) (RCIAF) (TSX:RCI.B; RCI.A) posted mixed Q1 2019 earnings with slight decline in its top and bottom lines. Its wireless revenue declined slightly due to double-digit decline in its equipment revenue. However, its service revenue actually increased and has helped the company to increase its wireless EBITDA in the past quarter. In addition, its low churn rate and modest growth in average billing per user actually helped Rogers’ average lifetime value of its wireless subscribers. Therefore, we still project positive top and bottom lines growth in its