Rogers adjusted profit up on wireless growth

Wed Oct 24, 2012 7:41am EDT
 
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(Reuters) - Rogers Communications Inc (RCIb.TO: Quote), Canada's largest mobile phone company, reported higher adjusted profit on Wednesday, as new smartphone subscribers boosted wireless revenue.

Rogers, which also owns television stations, magazines and the Toronto Blue Jays baseball team, said it added 76,000 net postpaid wireless subscribers the third quarter ended September 30. Postpaid subscribers, who sign multi-year contracts, typically pay more each month than prepaid customers.

Net income fell to C$466 million ($470 million), or 90 Canadian cents a share, from C$491 million, or 87 Canadian cents, a year earlier.

On an adjusted basis, earnings rose to C$495 million, or 96 Canadian cents a share, from C$489 million, or 90 Canadian cents, a year earlier.

Operating revenue rose 1.4 percent to C$3.18 billion.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Supriya Kurane)