A conference call to discuss the results for the third quarter of 2020 will take place today, Thursday, October 29, 2020 at 5pm ET. And so, the expectation is probably, be about Q2 of next year before we're fully over it, and it's no longer a drag on ARPU. And so, the drag on overages, probably back to the six to eight quarters that we had originally estimated. As we go into Q4, I'll reiterate that we are looking at sequential improvements in top line. And so, we'll keep you updated and be very transparent on where that's heading. Our next question comes from Simon Flannery of Morgan Stanley. I understand what's been driving it to date is the efficiency gains that you're getting, there's the accretive margins on equipment. We'll see whenever in reports what it looks like, but we believe it was maybe 5 percentage points off of last year or roughly the same as last year. In Q3, it bounced back. Toronto-based national carrier Rogers reported 138,000 postpaid wireless net subscriber additions in Q3 2020, and now has a total of 9,569,000 postpaid wireless subscribers. Please go ahead. That's why we took the pain around the overage melt through the course of last year, so that we're well prepared for this moment in time and what's going to transpire into the future. Rogers Corporation (NYSE:ROG) plans to announce third quarter 2020 results on October 29 after market close, which will be followed by a conference call at 5:00 pm ET. Returns as of 03/17/2021. GTA Online player fixes load times and now there’s an official u... Disney+ hosting virtual launch event for The Falcon and the Winter Sol... Xbox begins testing ‘suspend’ game feature to improve down... Elon Musk isn’t selling his NFT song as an NFT anymore [Update], eID-Me digital ID app now available across Canada. Publishing date: Jan 28, 2021 • January 28, 2021 • 76 minute read • Join the conversation. Our weighted average interest rate at quarter-end was 4.16%, with an average term to maturity of 13.2 years. Matters whether you're out and about, it matters whether you're in your car, and matters whether you're at home, and people will enjoy having connectivity in their pocket or within arm's reach all the time. As you saw in Q2 and Q1 of this year, promotional activity was low as the market was essentially shut down and very quiet. I think a couple of things. In our Sports and Media business, we will see some sequential declines in revenue and adjusted EBITDA as some of the key sports transition to late fall and early winter seasons. Given the early demand, we had shortened that to four to six quarters. Second quarter EBITDA went from a negative CAD35 million in Q2 to positive CAD89 million in Q3, reflecting the improvement in advertising revenue. So I don't want to sort of predict the overall margins and where they might cap out at. Here are the changes to Canadian carrier rate plans this week [March 1... Rogers signs agreement to acquire Shaw Communications in deal valued a... SpaceX launches third batch of Starlink satellites in two weeks, SpaceX launches 60 more Starlink satellites during 21st mission, Huawei to charge royalty rates for patented 5G phone technology, Samsung to hold next ‘Unpacked’ event on March 17, Qualcomm working on lower-cost Snapdragon 888 variant without 5G. The average unlimited customer is giving us about CAD20 plus of increased ARPU compared to legacy base. Here are the free games hitting PlayStation Plus in March 2021. And as Joe talked about, and we've pivoted several -- maybe many of our operating models, capturing digital in a much more fundamental way, not only at the customer level, but if you think about our back office, and those transactions. Thanks for taking my questions. Further, the report notes that Rogers had the highest consistency score in Canada during Q3 2020, with 88.0% of results showing at least a 25Mbps minimum download speed and 3Mbps minimum upload speed. Sign-up for MobileSyrup news sent straight to your inbox. Altice and Rogers have put forward what we believe is a very compelling offer, one that materially benefits all shareholders and all stakeholders. Yeah. We have seen significant savings this year, as we continue to benefit from the scale and historical relationships we enjoy with our current vendors and realize ongoing efficiency opportunities in the capital projects we are implementing. to start charging PST on streaming services like Netflix on April 1, Ontario launching online COVID-19 vaccine booking portal on March 15, Apple adds and then removes privacy labels for its apps. The Company's liquidity remains very healthy, at CAD5.5 billion available. The Glorious Model D is a great mouse for the gamer on your holiday sh... Huawei’s FreeBuds Pro feature a premium design and noise-cancell... LG Tone Free (HBS-FN6) are the cleanest earbuds around, PlayStation 5 Review: Undeniably next-gen, The PlayStation 5’s SSD and DualSense controller are game-changers, Xbox Series X Review: Holding tremendous potential. Digital in our business historically have been sort of 10% of the sales mix overall. October 22, 2020 News Releases TORONTO (October 22, 2020) – Rogers Communications Inc. today announced its unaudited financial and operating results for the third quarter ended September 30, 2020. We’re motley! In terms of overage revenue, we anticipate Q4 will be down CAD30 million on a year-over-year basis, given the near-term transition to our unlimited plans. Q3: 2020-10-22 Earnings Summary Transcript Press Release. But volumes continue at a healthy pace than we should expect, particularly by Q1, to see that equipment margin help the service revenue ARPU as well. Paul Carpino -- Vice President, Investor Relations. I mean, the unlimited plans are one of those tools or opportunities around profitability. Thanks for squeezing me in. And, we ended -- we're sitting today at about 2.2 million. Roku compatible soundbars get steamlined with ‘Roku TV ReadyR... 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Unlike Q2, where we booked a CAD90 million incremental provision for potential bad debt exposure, no additional provision was needed this quarter. Both of them, I don't want to get too far ahead of ourselves in terms of looking out into 2021, but what I can say a couple things. [App of the Week], Aeronaut is the prettiest memory game you ever did see [Game of the Week], Hands-on with the Gears of War 4 Limited Edition Xbox One S bundle, Windows Mixed Reality Review: A foot in the virtual door. Total revenues of $2.75 billion also beat the consensus mark by 9.3%. Joe, you alluded to the wireless market being down about 5% or maybe Tony, you did, and I believe that was up 4% pre-COVID. Intel launches 11th Gen Core desktop CPUs with focus on gaming, overcl... 6 big new Chromebook features to celebrate Chrome OS’ 10-year bi... Microsoft Surface Laptop 4 specs leak, could launch in April. Self-install now represent 95% of all installations, and the hardware costs continue to come down. Churn rate is the percentage of subscribers who discontinue their subscriptions in a month. This is an example of how our digital capability drives an enhanced customer experience as well as increases the overall efficiency of our service processes. How do we do more for the 10% or 15% of Canadians that aren't online or don't have great ability to get online because of broadband connectivity issues in rural Canada? Net sales of $191.2 million decreased 3.8% versus the prior quarter, due to the impact of COVID-19 on demand across most markets. Fitbit’s kid-focused Ace 3 fitness tracker is now available for ... Apple Watch continues to dominate global smartwatch market: report, Samsung Galaxy Watch 4 and Watch Active 4 rumoured to launch in Q2, Leak reveals Fitbit Ace 3 fitness tracker for kids with refresh design. Our virtual assistant conversations jumped over 200% since last year and nearly 20% sequentially. While these are still notable numbers and there remains significant uncertainty in the coming months and quarters due to the potential impact of a second wave of COVID, our teams are managing the environment very effectively. The ongoing impact from COVID is still unclear. Rogers Corporation (NYSE:ROG) today announced financial results for the full year and fourth quarter of 2020. And then in Media, the factor that was a good outcome for us was higher advertising revenue during the sporting events. Most of the conversations as of late have been around, how do we bridge the gap around rural connectivity? In addition, we delivered 30,000 prepaid net additions. Shares of Rogers (NYSE:ROG) were flat in after-market trading after the company reported Q3 results.. Quarterly Results. We fast tracked initiatives that we had planned, including enhanced TV and Internet self-install, stronger digital capability, customer care agents working from home, just to name a few, and launching these changes in record time. We believe ARPU in Q4 will improve slightly on a sequential dollar basis compared to Q3, but will remain under pressure year-over-year as we do not anticipate roaming to recover in the near term. The stock price information or data provided is not to be relied upon for any … We continue to be very efficient with our capital spending. Stock Advisor launched in February of 2002. And I think the fact that the service we offer has become a lifeline in every respect of the word, I think is a very useful platform from which to build greater trust and greater collaboration. And so, in the overall context of our Wireless revenue, you can see it ends up being a much smaller amount. Our losses for the year are expected to be much less than we anticipated earlier this year, and excluding the Blue Jays, our Media business will be net positive on adjusted EBITDA. Please go ahead. And we kind of timed our store openings and timed our capability around digital ramping up, etc., as the market kind of came to fruition. Here are the best phones released in Canada in 2020, Here are eight of the top Canadian-made games of 2020, MobileSyrup’s top apps for iOS and Android in 2020. And I just went through a mental list of all of them from the benefits of self-installing Cable, we were at 5%, full technician install, we're probably running about 10% right now. Rogers Corporation (NYSE:ROG) plans to announce third quarter 2020 results on October 29 after market close, which will be followed by a conference call at 5:00 pm ET. We intend to keep it and to grow it. All four major sports and their viewing audiences were back in Q3. We are well prepared in this regard. Couple for me. People are paying their bills. Created with Sketch. What we did see is that the volumes and the activity persisted throughout the whole quarter right from the starter's pistol right to the finish, there was volume week in and week out. And volumes in Q1 and Q2 have been relatively light on a year-over-year basis. Revenue was up 1% year-over-year and was up 65% sequentially as live sports returned and advertising started to recover. Obviously, so many moving parts in terms of shutdown and reopen. And that's similar for the Cable side as well, although your question was more in the context of CI. Thank you, Matt. If you want the best looking Switch graphics possible, get an mClassic, Animal Crossing: New Horizons was worth waiting seven years for, Instagram testing new sticker that auto-generates captions for Stories. And when they do come back, we do very well in that market, it will be even more accretive to the overall volume opportunity that's there for the Rogers team as a whole. We think the one, two punch is physical distribution and online capability and creating customer journeys and modalities that integrate the two. This positions us very well as the marketplace moves into a 5G world. The gross margin for Q3 2020 was 180 basis points higher than Q3 2019 gross margin of 35.6% on approximately $20 million less revenues. Created with Sketch. brand names, logos, and marks are trademarks and/or copyright of their respective owners. Rogers delivered significant sequential improvements in Q3 across each of our businesses with a solid performance in customer additions, revenue growth, profitability, and free cash flow. On a year-over-year comparison, roaming revenue combined with the overage reduction, contributed 8 points of our year-over-year revenue decline. Please go ahead. 0 0 . With respect to the overage numbers, Tony, thanks for providing that yet again, as well as the outlook, I know that in the past you talked about sort of getting to that target of around 1% of service revenues. Canada’s most trusted and most reliable wireless network delivers the highest consistency of any national wireless carrier for second quarter in a Created with Sketch. Bit of a different variation on Drew's question. Just going back to Wireless and the channel mix, are you at all rethinking the retail store footprint or even the office footprint as you mentioned working from home in a post-COVID environment, any savings there? Earlier this week, Ookla, a leader in network testing, recognized Rogers as the Internet provider with the fastest speeds in Canada and the best consistent performance nationally. As we continue to work through the near-term overage to clients, we do anticipate multiple, financial, and operational benefits to be reflected in our results as this transition is completed. Thanks, Vince. We've seen very robust pre-orders. First, our results. Silk Road Medical, Inc. (NASDAQ:SILK) Q3 2020 Results Conference Call November 10, 2020 4:30 PM ET Company Participants. In Q3 2020, Rogers Internet was ranked fastest in its cable footprint, as well as most consistent national wireless network and internet provider in Canada by Ookla. Additionally, no incremental provisions for bad debt were required. Next, I will share an update on how we're continuing to adapt our business to both meet the needs of our customers and drive operating efficiency. Eeyou Mobility launching wireless service with Rogers spectrum in Nort... ‘I’m a Mac’ guy Justin Long now featured in slightly... EA Play coming to Xbox Game Pass on PC on March 18, Samsung might not launch a Galaxy Note this year due to chip shortages. While there continues to be significant uncertainty in terms of how the ongoing impacts of COVID will influence the Canadian economy through the rest of the year, our Q3 results show we are effectively managing growth opportunities, profitability improvements, operating efficiency, cash flow generation, and disciplined capital investment during this period. Q3 results reflected solid improvements in each of our businesses as the country slowly emerged from the COVID lockdown of the second quarter. So, each of those sort of had more of an impact sequentially. Today, nearly all of our Top 5 service transactions are completed digitally. Today, our entire Cable footprint already enjoys 1 gig Internet speed, and Ignite TV platform is up over 115%, and we have the largest 5G network in the country, with 130 communities already enjoying 5G. Our view has always been to balance volume with profitability as a whole, but we will always be there in the market and always be present in the market overall when it comes to the opportunities for customers to transact. Mississauga man pleads guilty to laundering money for North Korean Son... Court rules U.S. border agents can search all travellers’ phones... TekSavvy receives SWIFT Contracts to build Southwestern Ontario fibre ... Clearview AI violated Canadian privacy laws with facial recognition to... SpaceX’s Starlink could provide internet to boats, trucks and ai... Canadian 5G average download 205 percent faster than 4G: Speedtest report, 5G median download speeds 205 percent faster than 4G in Canada: report. Tony Staffieri -- Chief Financial Officer. As we've previously noted, after Q2, our results during the economic shutdown did not reflect the underlying fundamentals of our Company, nor the long-term growth prospects of our Wireless, Cable or Media businesses. Postpaid churn in Q3 came in at 1.1%, a full 10 basis points better than Q3 of last year. The Company recorded adjusted EBITDA (1) of $14.3 million and $61.0 million for the current quarter and year-to- date, $4.5 million and $4.6 million lower than the comparable periods last year, respectively. I was wondering if you sort of translate that to the overall conditions, even for wireless sort of easing in particular, given the pricing and the competitive environment we're seeing today. Check out some of the Canadian apps on the Huawei AppGallery. Q3 2020 Overview 4 Wireless Infrastructure 11% Portable Electronics 13% A&D 12% Clean Energy 10% Industrial 19% Other 11% Mass Transit 6% e-Mobility 11% ADAS 7% Financials •Net sales of $202M, increased 5.6% QoQ •Gross margin of 37.4%, increased 80 basis points QoQ •Adjusted EPS* of $1.45, increased 28% QoQ Revenue by Market Segment - YTD Diversified Market Growth and Operational … You add to that the handset discipline that Tony talked about in the beginning, we're seeing equipment margins positive -- positive equipment margin probably for the first time in the history of the industry as a whole. However, with a more active market looking to upgrade, as highlighted by our 300,000 sequential increase in unlimited plans, we continue to have the right focus on ARPU drivers as the underlying fundamentals of these plans remain positive. Last year in Q3, equipment margins were negative 2.7%, and today, they are positive 1.6%. In terms of an outlook, we won't provide specific guidance, but similar to last quarter, let me share some color as to what we see at this point. This represents the largest unlimited customer base by far in Canada. Alleged Qualcomm Snapdragon 775 chip details leak online, Samsung and Mastercard collaborating to develop fingerprint payment card, Qualcomm announces Snapdragon Sound platform to optimize wireless audio, Samsung announces mid-range Galaxy A52, A52 5G and A72, Here’s how to watch Samsung’s Galaxy Awesome Unpacked event, OnePlus 8 series is now on sale in Canada, Surface Duo successor rumoured to sport improved software and 5G, RedMagic 6 and 6 Pro gaming phones coming to Canada in April, OnePlus confirms ‘Morning Mist’ OnePlus 9 Pro variant, Some Google Pixel devices encountering Daylight Saving Time update issue. Tony, is that something that's starting to show up in your numbers and maybe a bit of the reason why you bounced back to over CAD51 in ARPU versus CAD49 in the second quarter? Clearly, Rogers leading on unlimited 5G coverage. Rogers Communications Inc. 1 Third Quarter 2020 This Management's Discussion and Analysis (MD&A) contains important information about our business and our performance for the three and nine months ended September 30, 2020, as well as forward -looking information about Capital intensity in both Wireless and Cable business should continue at around the current Q3 levels. Vince, thanks for the questions. If it's not accepted, we would do what you would expect us to do, would review our capital allocation priorities with our Board as part of our normal course of planning and strategic priority setting and we come back to the investment community what our thoughts and plans are around that capital allocation. Caroline Paul - Investor Relations. Our next question comes from David Barden of BoA Merrill Lynch. TORONTO (October 22, 2020) - Rogers Communications Inc. today announced its unaudited financial and operating results for the third quarter ended September 30, 2020. We'll start with the second question first. Before we begin, I want to remind everyone that today's discussion will include estimates and other forward-looking information from which our actual results could differ. In many cases across industries, the move to online shopping is three years ahead of forecast. We're very pleased with our growth in unlimited. We'll continue to execute that for Q4. Homes passed and customer relationships each grew year-over-year and sequentially. And you previously stated that the EBITDA margin was a record for Rogers. The call will be hosted by Bruce Hoechner, President and CEO, who will be joined by Mike Ludwig, SVP … Aravinda, you may recall, as we launched unlimited and we progressed in rolling it out, in the early days, it exceeded our expectations. 2020 Q3 Results Conference Call Company Information; Shareholder and Debt Information; Financials; Corporate Governance And as it relates to the new iPhone, we're quite excited about the new iPhone. The digital support and service will continue to ramp. Good morning. Hope that's helpful, Aravinda? Please review the cautionary language in today's earnings report and in our 2019 Annual Report regarding the various factors, assumptions, and risks that could cause our actual results to differ. 1,143 . The carrier’s blended ARPU (average revenue per unit) for the quarter was $51.12 while it was $56.01 in the same period a year ago. When asked about Rogers and Altice USA’s $11.3 billion takeover bid for Cogeco, Natale stated that the two companies provided a “very compelling offer” that benefits all shareholders. And although we might not remain at 100% work from home, I could see us in a place where it's 50-50 or something of that nature. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. And so, while the demand for unlimited is robust, it's trailed when compared to what our heightened expectations were at this time last year. Bear in mind that over half of our base is on an iPhone, so it's a very significant part of our day-to-day business, and we believe we have the largest iPhone base in Canada. And then just on -- quickly on Cable capex intensity, it sounds like you're claiming victory and saying you've achieved your previous target of the 22% capital intensity. Also, less immigration, less foreign students and still you posted a very strong number. umlaut, a global leading in network testing and benchmarking that ranks the performance of typical consumer use cases and tests, testings like network reliability, download and upload speed, call set up time, video streaming stability and quality, has awarded Rogers the best wireless network in Canada for the last two years. As a reminder, all participants are in listen-only mode and the conference is being recorded. Thanks. In terms of sustainability, I think it's really a first derivative of the economy. Our views of market was down, call it 10% or 15% or down to the level of 10% or 15% of the previous year in Q2, so down radically in Q2. Rogers attributes the increase to stores reopening and a recovering economy amid the ongoing COVID-19 pandemic. Our Rogers Infinite unlimited plans grew by 300,000 this quarter to 2.2 million customers. Super Mario 3D World + Bowser’s Fury is an excellent re-release ... Here’s where you can stream the big 2021 Oscar nominees in Canada. In addition to efficiency and cost management opportunities, investing for growth remains a top priority. But don't forget, we also have some tools at our disposal around overall growth. The call will be hosted by Bruce Hoechner, President and CEO, who will be joined by Mike Ludwig, SVP and CFO, and Bob Daigle, SVP and CTO. Rogers tops third-quarter estimates. Thanks very much. So we'd love to get updated thoughts here on how you see in this lower growth market balancing acquisition with retention and any changes here in growth versus profitability on the Wireless side. Rogers Communications RCI reported third-quarter 2020 adjusted earnings of 81 cents per share that beat the Zacks Consensus Estimate by 30.6%. We remain on track to save our customers an estimated 400,000 hours of their time and save us approximately 100,000 service truck rolls this year. Follow. Supplemental Financial Information XLSX. In Cable, we continue to see excellent ongoing advancements with the self-install capabilities of our Ignite services. Copyright, Trademark and Patent Information. “The five percent decrease in blended ABPU this quarter and four percent decrease year to date were primarily a result of the declines in roaming and overage revenue, partially offset by an ongoing shift in subscribers financing new, higher-value device purchases. “The pandemic has resulted in strong consumer demand for both our sugar and … We also have, excuse me, the cost programs that will continue to reduce cost year-on-year, and that will be the sort of the second, what I would call, margin expansion piece of it. Vince Valentini -- TD Newcrest -- Analyst. Over to you, Tony. The 5G pace is particularly impressive, given our rollout started in mid-January. Updated COVID-19 exposure notification API may reduce false positives,... COVID Alert will soon be available in Nova Scotia, Prince Edward Island. I think it depends on the type of work that people are doing. So the general health of the economy looks quite good right now. Rogers Corporation (NYSE:ROG) plans to announce third quarter 2020 results on October 29 after market close, which will be followed by a conference call at 5:00 pm ET. Consumers came back to our stores or through our digital channels in healthy numbers to meet their connectivity needs. And they're very encouraging to see that channel mix move in our favor from that perspective, that's not going away.