Rogers posts Q2 Financials and Operating Results

Good news coming from the Rogers camp this morning with their Q2 financials going out over the news wire. Just how did they do? They brought in a staggering 135,000 new subscribers (108,000 being postpaid and 27,000 being prepaid accounts). A majority of the newly activated lines were smart phones - this combined with customers upgrades represented approximately 591,000 smartphone activations (“predominantly iPhone, BlackBerry and Android devices”). Also, according to the report smartphones now represent 48% of the all postpaid subscribers - it was 35% Q2 2010; bringing Rogers total new wireless subscribers up to an astonishing 9,127,000 users.
And of course high sales of one, leads to high sales of another. Due to the increase in smart phone sales, Rogers Wireless data revenue increased by about 31% to $572 million - now sitting at $1,114 million for the year. Data revenue now represents 34% of the total network revenue - up from 27% in 2010. ARPU (Average Revenue Per User) is now sitting at $60.26, which is a decrease because of “competitive intensity” compared to last years $63.27; postpaid ARPU was then $70.07 and prepaid was $16.14.
Nadir Mohamed, President and CEO of Rogers had this to say:
“Rogers delivered a solid performance in the second quarter both for financial and subscriber results, delivering solid growth in a highly competitive environment.” “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.”
[via CNW]