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Earnings: Rogers Q2 '11 Profit Slipped, Earnings Up

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