Rogers Reports Higher Broadband, Wireless Revenues
29 February 2008Rogers Communications reported last week a 44% rise in its fourth-quarter profit last week as additional wireless subscribers helped results.
Rogers, Canada’s biggest wireless carrier and cable-TV company, said it earned C$254 million ($251 million) in the three months ending on December 31, up from a profit of C$176 million in the same period a year earlier.
Rogers’ cable Internet subscriber base grew by 46,000 in the quarter to 1,465,000, while basic cable subscribers increased by 20,000 to 2,295,000, and digital cable households increased by 61,000 to reach 1,353,000.
The company also entered into a renegotiated agreement with Yahoo to eliminate monthly per-subscriber fees and sees both companies working jointly on advertising revenue opportunities using Rogers’ high-speed Internet access portal and subscriber base.
In connection with this new agreement, Rogers made a one-time payment to Yahoo, and the Cableco’s cost of providing its Internet service will be reduced over the four-year term of the new agreement.
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