Rogers Communications Sees Quarterly Profits Up by 15%
Published on: 23rd Apr 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Canada's Rogers Communications has reported that its first quarter revenues rose by 3 percent to reach C$3.03 billion while net profit jumped by 15 percent to C$414 million.
The revenue growth was driven by Wireless network revenue growth of 4% and Cable revenue growth of 4%, partially offset by declines at Media, compared to the same quarter last year.
Wireless data revenue grew by 22% which helped drive a 3.5% increase in blended ARPU. Wireless data revenue now comprises 45% of Wireless network revenue, compared to approximately 39% in the corresponding period of 2012.
"The positive operating trends which we achieved during 2012 are carrying into the new year as evidenced by the continued improvements in ARPU, data and Internet revenue, churn and margin profiles which we reported for the first quarter of 2013." said Nadir Mohamed, President and CEO of Rogers Communications.
Wireless activated and upgraded 673,000 smartphones, of which approximately 33% were for subscribers new to Wireless. This resulted in subscribers with smartphones now representing 71% of the overall postpaid subscribers. Wireless also recorded a continued reduction in postpaid churn.