Rogers Increases Profit by 21%
Rogers, Canada’s largest wireless carrier just reported a 21% increase in second quarter profits . They earned 464 Million in last quarter vs 412 Million for the same period a year ago. The Financial Post reported that they gained 98,000 new customers, which is 50% lower than the previous year, but is not surprising given the fact that the market is slowing down, and the incumbents Bell and Telus split the remaining share. It would seem that new wireless entrants Wind Mobile, Mobilicity, and Public Mobile into the market have not hurt Rogers at this point in time.
The biggest area of growth was the continued growth of Smart Phones, which allowed wireless revenue to grew by 39% and these associated data plans make up 35% of Rogers revenue.