Rogers revenue boosted by cable power

Canadian telecoms operator Rogers Communications Inc. trumped first-quarter revenue estimates on Wednesday, buoyed by strong demand in its cable unit that provides internet and cloudbased services.

Total revenue rose two per cent to $3.49 billion in the quarter, compared with analysts’ average estimate of $3.35 billion, according to IBES data from Refinitiv.

Telecom providers have benefited from a surge in demand for highspeed internet from the COVID-19 pandemic caused shift to remote working and entertainment.

Revenue from the media segment, which includes television, radio broadcasting and digital media, rose seven per cent to $440 million, boosted by the return of live professional sports broadcasting.

Cable service revenue increased five per cent during the quarter.