Rogers raked in massive profits despite growing telecom complaints in Canada

Despite the fact that Rogers boasts the largest proportion of a growing number of telecom complaints across the country, the provider just reported a massive jump of billions in revenue.

The company's fourth quarter 2023 fiscal results show a staggering 30 per cent increase in service revenue, to the tune of $16.8 billion over the three-month quarter — indicative that even with all of the issues and complaints, more and more people continue to sign on with Rogers and upgrade their services.

Telecom complaints are growing in Canada and Rogers has the most of all https://t.co/uRrjKo8m7g

— blogTO (@blogTO) January 17, 2024

Per the document, released Thursday, Rogers ended last year with 11.6 million wireless customers and 4.2 million internet customers, which included a surge of 674,000 more people signing on to postpaid phone plans over the course of the year.

Its takeover of Shaw Communications, which was finalized in April 2023, also meant a huge spike in cable revenue, which was up a staggering 94 per cent in Q4 2023.

However, the $26 billion acquisition drove profits down some 35 per cent compared to the same time last year — though profits still reached a bonkers $328 million (or $630 million in adjusted net income). One can only imagine what they would be if it weren't for the deal.

Rogers somehow gained tons of customers in Canada after that disastrous service outage https://t.co/ekpvmMyXqZ #Canada #Rogers

— blogTO (@blogTO) November 9, 2022

Rogers said in its release today that it anticipates further increases in revenues, following the trend of Canadian airlines, supermarkets and more, companies raking in profits regardless of the quality of service they provide.