Rogers Communications (NYSE: RCI) reported Q3 EPS of Cdn$1.08, versus Cdn$1.19 reported last year. Revenue for the quarter came in at Cdn$3.67 billion, versus Cdn$3.75 billion reported last year.

• Wireless total net loading of 168,000, including a 34% increase in postpaid net subscriber additions to 138,000, reflecting strong execution
  • Strong consumer adoption of Rogers Infinite™ unlimited data plans now at approximately 2.2 million total subscribers, up almost 60% year to date in 2020
  • Monthly postpaid churn of 1.10%, improved 10 basis points
  • Improved adjusted EBITDA service margin 300 basis points with service revenue down 9% and adjusted EBITDA down 4%
• Expanded Canada's largest 5G network to 130 cities and towns across the country
• Cable adjusted EBITDA margin growth of 120 basis points and capital intensity decrease of 720 basis points to 22%
  • Grew adjusted EBITDA by 2% with consistent service revenue
  • Cable results include 16,000 net new Internet subscribers and 38,000 net new Ignite TV™ subscribers
• Media revenue up 1% reflecting the return of live professional sports broadcasting
• Free cash flow of $868 million, up 13%; strong balance sheet with liquidity position of $5.5 billion
• Paid $253 million in dividends and declared a quarterly dividend of $0.50 per share

"The strong sequential improvement in our third quarter results is reflective of solid execution across our businesses, including continued growth in our digital-first efforts, to ensure our customers have a range of channels available to meet their needs," said Joe Natale, President and CEO. "Our company has adjusted well throughout the pandemic and will continue driving cost and service improvements while we remain focused on investing for the long-term in our leading networks, including bringing Canada’s largest 5G network to even more communities."

Financial guidance
Due to the continued uncertainty surrounding the duration and potential outcomes of COVID-19, we are unable at this time to predict the overall impact on our operations and financial results, but the impact to date has been material. While results this quarter have recovered materially from the second quarter, it is not possible at this time to reliably estimate our financial results for the remainder of the year; therefore, we will not provide an updated financial outlook for 2020. Although COVID-19 has adversely impacted total service revenue and adjusted EBITDA in the short-term, we have continued to generate strong free cash flow, which remains a priority for us. See "Updates to Risks and Uncertainties" and "About Forward-Looking Information" for more information on COVID-19, including the impacts it has had and may have on our business and the actions we are taking in response.

For earnings history and earnings-related data on Rogers Communications (RCI) click here.