A surging media business was not enough to help Rogers’ bottom line, as the company earned $371 million in net income for the quarter, down from $490 million in the same period last year.

Rogers Communications is reporting total revenue of $3.74 billion for Q3 2022. This is up 2% from the same quarter in 2021, driven primarily by 12% revenue growth in its media business, but also from its wireless businesses. The company says total revenue would have increased 6% compared to a year ago if it wasn’t for the credits it gave customers due to a massive network outage in July.

In this morning’s earnings call, Tony Staffieri, president and CEO of Rogers, says it is continuing its strong and consistent execution of its wireless business and reports “robust demand from consumers and advertisers” for its sports and media assets. Higher Toronto Blue Jays revenue was achieved after the Rogers Centre was filled to capacity. 

Wireless service revenue increased by 3% this quarter, primarily as a result of higher roaming revenue associated with significantly increased travel related to the easing of COVID-19 restrictions.

The company asserted its commitment to continued increases in its network investments for Canadians with capital expenditures of $872 million, up 18%, including a 52% increase in network investment compared to last year.