Canada's Rogers Communications forecast strong annual free cash flow after topping estimates for quarterly wireless subscriber additions on Thursday, as a surge in immigration boosted demand for its wireless and internet services. Canada has been seeing a steady rise in immigration as it welcomes more people in a bid to grow its population and boost economy - increasing demand for Rogers' plans aimed at newcomers. The country targeted 465,000 new residents in 2023 and has a goal of 485,000 in 2024 and 500,000 in 2025 - a move that analysts have said will benefit the country's big three carriers - Rogers, BCE and Telus.

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