UPDATE 1-Rogers adj profit rises on growth in wireless, cable businesses

Mon Apr 22, 2013 5:30pm EDT
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April 22 (Reuters) - Rogers Communications Inc, Canada's largest wireless telecommunications company, posted a 15 percent rise in quarterly profit as new smartphone subscribers pushed up wireless revenue.

The Toronto-based telecom and media company said its adjusted net income rose to C$414 million ($403 million), or 80 Canadian cents per share, in the first quarter from C$360 million, or 68 Canadian cents per share, a year earlier.

Rogers, which also owns television stations, magazines and sports teams, said operating revenue rose 3 percent to C$3.02 billion.

Revenue in its wireless business rose 3 percent to C$1.76 billion.

Rogers said it added 32,000 net postpaid wireless subscribers, a closely watched metric, given those customers often sign multi-year contracts and typically pay more each month than prepaid subscribers.

The company activated and upgraded about 673,000 smartphones in the first quarter, compared to about 642,000 a year earlier.

The percentage of postpaid subscribers using smartphones rose to 71 percent by the end of the quarter from 60 percent a year earlier.

"The positive operating trends which we achieved during 2012 are carrying into the new year," Chief Executive Nadir Mohamed, who is set to retire in January, said.   Continued...