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UPDATE 1-Rogers profit beats on more wireless and internet customers

Published 2017-01-26, 07:45 a/m
© Reuters.  UPDATE 1-Rogers profit beats on more wireless and internet customers
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Jan 26 (Reuters) - Rogers Communications Inc RCIb.TO , Canada's largest wireless provider by market share, reported a better-than-expected profit as it added more postpaid wireless and internet subscribers.

The company, controlled by the Rogers family, said it added 93,000 net postpaid wireless subscribers for the fourth quarter ended Dec. 31. customers, who typically use more expensive devices and pay much more for service than prepaid subscribers, paid C$7.83 more per month than they did a year ago.

The Toronto-based company also added 30,000 landline internet and 4,000 landline phone accounts, but lost 13,000 television subscribers in the quarter.

In the quarter, an average wireless prepaid customer spent C$60.72 a month for service, up by C$1.56 from a year ago.

However, Rogers reported a net loss of C$9 million ($6.86 million), or a loss of 4 Canadian cents a share, compared to a profit of C$299 million, or 58 Canadian cents a share, a year earlier.

Excluding an impairment charge of C$484 million, Rogers earned 74 Canadian cents per share, beating analysts' expectations of 71 Canadian cents, according to Thomson Reuters I/B/E/S.

The company's revenue rose 1.68 percent to C$3.51 billion, but missed analysts' average estimate of C$3.56 billion. ($1 = 1.3113 Canadian dollars)

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