Rogers Reports Strong Q3 Based on Wireless Subscriber Growth
Rogers Communications announced today its results for the third quarter of 2012. The company saw revenue growth reach $3,176 million led by strong wireless growth.
"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 Inc. "Despite intensely competitive markets, we continued to successfully leverage our technology leadership to deliver new and innovative products and services and to invest in our networks at a healthy pace, while at the same time continuing to generate strong earnings and free cash flow."
Rogers Communications reported its wireless network revenue grew 2 per cent led by wireless smartphone activation, a total of 707,000, which increased by 36 per cent and a wireless data revenue increase by 18 per cent.
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Rogers also reported the generation of $589 million of consolidated pre-tax free cash flow throughout the quarter, which was an increase of 15 per cent in comparison to the same quarter in 2011.
Another highlight of Rogers for the quarter was its expansion of Canada’s first wireless LTE 4G broadband network which now is available in 24 Canadian markets which reaches 54 per cent of the Canadian population.