Rogers Announces Q3 2011Results
Rogers Communications announced its Q3 2011 results today with a total profit of $492 million. This rise in profit for Rogers is a direct result of wireless subscriber growth, which was up 161,000, and wireless data revenue growth which was up 28 per cent.
"Rogers delivered a balanced set of financial and subscriber results in the third quarter, with continued growth in the face of an extremely competitive environment," said Nadir Mohamed, President and Chief Executive Officer of Rogers Communications Inc. "The strength of our asset mix, combined with a focused execution on our priorities - wireless data growth, customer retention and managing our cost structure - enabled Rogers to generate continued strong margins and free cash flow while increasing the amount of cash returned to shareholders by double digits year-over-year."
For the wireless branch of Rogers the third quarter was profitable. The wireless data revenue growth of 28 per cent helped bring total revenue to comprise 36 per cent of wireless network revenue. Rogers Wireless activated and upgraded 609,000 additional smartphones this quarter with 42 per cent becoming new subscribers.
Even more, wireless subscribers now have the ability to feel informed while abroad. Rogers Communications launched Roaming Data Passes, creating ease of use through real-time data usage alerts while roaming.
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Additionally this quarter, Rogers created Canada’s first Long Term Evolution (LTE) wireless network. Launching the new service, 5.5 million Canadians in four large cities, including Toronto, Ottawa, Montreal and Vancouver, can access the new wireless technology that is capable of speeds three to four times faster than HSPA+ .
In the end it’s clear, Rogers Communications had a profitable third quarter. Now the only question is, what will they come up with next?
