2024-07-24 14:58:09 ET
Rogers Communications Inc. (RCI)
Q2 2024 Earnings Conference Call
July 24, 2024, 08:00 AM ET
Company Participants
David Naccarato - Director of IR
Anthony Staffieri - President and CEO
Glenn Brandt - CFO
Conference Call Participants
Drew McReynolds - RBC
Vince Valentini - TD Cowen
Maher Yaghi - Scotiabank
Matthew Griffiths - Bank of America
Stephanie Price - CIBC
Tim Casey - BMO
Batya Levi - UBS
Jerome Dubreuil - Desjardins
Aravinda Galappatthige - Canaccord Genuity
David McFadgen - Cormark Securities
Presentation
Operator
Thank you for standing by. This is the conference operator. Welcome to the Rogers Communications, Inc. Second Quarter 2024 Results Conference Call. [Operator Instructions]
I would now like to turn the conference over to David Naccarato, Director of Investor Relations with Rogers Communications. Please go ahead, Mr. Naccarato.
David Naccarato
Thanks, Galen, and good morning, everyone, and thank you for joining us. Today, I'm here with our President and Chief Executive Officer, Tony Staffieri, and our Chief Financial Officer, Glenn Brandt. Today's discussion will include estimates and other forward-looking information from which our actual results could differ. Please review the cautionary language in today's earnings report and in our 2023 Annual Report regarding the various factors, assumptions, and risks that could cause our actual results to differ.
With that, let me turn it over to Tony to begin.
Anthony Staffieri
Thank you, David, and good morning, everyone.
I'm very pleased to report that Rogers delivered another strong quarter of leading financial and operating results. For 10 straight quarters, we have executed our plan with discipline in a healthy and competitive growing market.
Our results speak for themselves. In the second quarter, wireless service revenue and adjusted EBITDA were both up a healthy 4% and 6%, respectively. Our focus on efficiency and disciplined market share growth is reflected in our industry-leading loading and industry-leading wireless margins of 65%.
In Wireless, we led the market with 162,000 mobile phone net additions. This included 112,000 postpaid mobile phone net additions and 50,000 prepaid mobile phone net adds. The increase in prepaid net additions reflects our strategy this quarter to increasingly address the flanker market with our prepaid brand, which has also had a successful value proposition for the new to Canada market....
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Rogers Communications Inc. (RCI) Q2 2024 Earnings Call Transcript