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Canada's Rogers Communications Quarterly Profits Up by 30 Percent
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Canada's Rogers Communications has reported fourth-quarter revenues that rose by 3 percent to C$3.26 billion, while the net profit jumped by 30 percent to C$455 million.
The revenue growth of 3% was driven by Wireless network revenue growth of 4%, Wireless equipment revenue growth of 13%, Cable revenue growth of 2%, and Media revenue growth of 1%, partially offset by declines at Rogers Business Solutions compared to the same quarter last year.
Wireless data revenue grew by 21% which, combined with a continued slowing in the rate of decline of voice ARPU, helped drive a 2.8% increase in blended ARPU. Wireless data revenue now comprises 42% of Wireless network revenue.
Rogers Wireless activated and upgraded 940,000 smartphones, of which approximately 29% were for subscribers new to the company. This is the highest number of smartphone activations and upgrades in Rogers' history and resulted in subscribers with smartphones now representing 69% of the overall postpaid subscribers. Wireless also recorded a continued reduction in postpaid churn on a year-over-year basis.
The company ended the year with 7.8 million postpaid and 1.6 million prepay customers.
Tags: [rogers communications] [Canada]
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