Rogers (NYSE: RCI) sees profits, wireless subscribers drop in Q3

Canadian telecom powerhouse Rogers Communications (NYSE: RCI) isn't fighting with News Corp. or launching walled video content. It's also not making as much money or adding as many wireless subscribers, according to third quarter results released this morning.

On the other hand, the company reported that cable operations and media revenues were holding their own, up 3 percent to $797 million and $376 million respectively and cable total service units (TV, Internet and telephony) grew by 54,000, 8 percent faster than 2009 with Internet leading the way at 72 percent penetration and VoIP at 43 percent.

The fascination with wireless results showed the transformation of Rogers from primarily a cable TV provider into a more diversified company with a powerful mobile business operating in a highly volatile environment. In the wireless space, where competition is fierce, profits dropped 24 percent ($485 million to $370 million) and new subscriber numbers fell from 167,000 to 125,000.

For more:
- see this news release
- and this story
- and this story

Related articles:
Comcast alert: NBCU shows mixed results in third quarter
Canadian cable company Rogers goes live with On Demand Online
Rogers Wireless launches LTE trial with Ericsson; Clearwire delays launch of WiMAX in Denver

- see all third quarter earnings reports as they come in

Suggested Articles

Comcast NBCUniversal has 11 new media and entertainment startups, including facial recognition and interactive sports tech companies, picked for its second…

Harmonic got a big boost for its CableOS virtual converged cable access platform (CCAP) after Comcast this week signed a licensing deal worth $175 million.

TiVo has entered into a multiyear extension of its agreement with Canadian operator Shaw Communications for TiVo’s i-Guide and its intellectual property…