Rogers tops profit estimates as wireless subscriber base grows

FILE PHOTO: A sign is pictured outside a Rogers Communications retail store in Ottawa, Ontario, Canada July 20, 2017. REUTERS/Chris Wattie

(Reuters) - Rogers Communications Inc's RCIb.TO first-quarter profit topped analysts' forecasts as the Canadian cable and telecom company signed up more wireless postpaid and internet customers.

Rogers, Canada’s largest wireless company by market share, said on Thursday it added 95,000 net postpaid wireless subscribers in the first three months of 2018, up by 35,000 compared with a year earlier.

Toronto-based Rogers has been focusing on growing its wireless network as it faces fierce competition from Telus Corp T.TO, BCE Inc BCE.TO and Shaw Communications Inc SJRb.TO.

Rogers’ net income rose to C$425 million ($335.7 million) or 80 Canadian cents per share in the first quarter, from C$310 million or 60 Canadian cents per share a year earlier.

Excluding one-time items, Rogers earned 90 Canadian cents per share, ahead of analysts’ average estimate of 75 Canadian cents, according to Thomson Reuters I/B/E/S.

Revenue rose 7.7 percent to C$3.63 billion.

Reporting by Anirban Paul in Bengaluru; Editing by Sai Sachin Ravikumar