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Earnings: Rogers Q2 '11 Profit Slipped, Earnings Up

Submitted by on July 26, 2011 – 9:10 am

Rogers reported their Q2 2011 earnings today and its profits managed to slide by 9% which is due to increased competition in the market, however results are still above expectations from analysts.

“Rogers delivered a solid performance in the second quarter both for financial and subscriber results, delivering solid growth in a highly competitive environment,” said Nadir Mohamed, President and Chief Executive Officer of Rogers Communications Inc. “The strength of our asset mix combined with successful execution on our priorities – wireless data growth, customer retention and managing our cost structure – enabled Rogers to generate continued strong margins and substantial free cash flow.”

Net income for Rogers was $410 million, or 75 cents per share, which is lower than what it reported a year ago at $452 million in profits or 77 cents per share.

Rogers Second Quarter 2001 Highlights:

  • Wireless network revenue growth of 1% versus last quarter
  • Cable Operations revenue growth of 5% versus last quarter
  • Media revenue growth of 13% versus last quarter

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Dave Forde

Dave “The Connector” Forde has been involved in the technology industry across Canada for over 10 years in sales and marketing roles, he launched PR In Canada, and on Profectio.

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