Canadian operator Rogers Communications’ net income grew 35 percent in the second quarter to hit $531 million ($420.8 million USD) thanks in large part to the strength of its wireless business.
Rogers reports total revenue of $3.6 billion Canadian, and total service revenue of $3.5 billion Canadian. Those figures were up 4 percent and 5 percent year over year. Broken down by segment, Rogers indicates wireless revenue grew 8 percent in the quarter, followed by 7 percent growth in internet revenue, 4 percent growth in media revenue, and stable revenue from its cable division.
The company’s subscriber figures add some nuance to the story, as the wireless division posted 93,000 postpaid net additions and the lowest churn rate since 2009. The internet and phone businesses also stayed in the black with 11,000 and 2,000 net additions in the quarter, however, Rogers’ television segment posted net losses of 25,000.
Rogers says its second quarter results “reflect continued momentum” and the company’s efforts to simplify its organizational structure to improve customer experience. And the upswing is expected to continue.
“We continue to focus on the fundamentals we believe are the key drivers of shareholder value: growth in revenue, margins, adjusted operating profit, free cash flow, and return on investment,” Rogers notes in its press release. “We have an unmatched asset base with significant opportunities within that base to drive sustainable growth.”