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Rogers Communications Posts Flat Revenues and Profits
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Canada's Rogers Communications has reported third quarter revenues and profits that both rose by just 1 percent over the previous year. Revenues came in at C$3.18 billion while net profits were C$495 million.
Revenue growth for the quarter was driven by wireless network revenue growth of 2%, wireless equipment revenue growth of 16% and Cable Operations revenue growth of 1%, offset by declines in Media and RBS compared to the same quarter last year.
"Our top line and operating profit growth in the third quarter was highlighted by strong postpaid wireless smartphone sales and accelerated wireless data revenue growth, as well as strong margins in both our wireless and cable businesses where customer retention and cost containment initiatives have taken hold," said Nadir Mohamed, President and Chief Executive Officer of Rogers Communications.
Wireless data revenue grew by 18% and comprises 41% of Wireless network revenue compared to 36% in the same quarter last year.
During the third quarter, Wireless activated 707,000 smartphones, of which approximately 36% were for subscribers new to Wireless. This resulted in subscribers with smartphones, who typically generate ARPU nearly twice that of voice only subscribers, representing 65% of the overall postpaid subscriber base as at September 30, 2012, up from 52% at September 30, 2011.
The smartphones activated during the quarter were predominantly iPhone, Android and Blackberry devices.
Tags: [rogers communications] [Canada]
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