Given the slow advertising market lately the results reported today from Canadian telecommunications company Rogers Communications (RCI) looked pretty good.
- Earnings per share were up 12%
- Wireless revenue up 7%
- Overall revenue up 2%
Roger's Canadian exclusivity on the Apple (AAPL) iPhone helped these results. This headwind will be taken away now as competitors get the phone as well. Once advertising picks up again Rogers earnings should continue to grow. They are well positioned in the Canadian market and have gobbled up a lot of Bell Canada's customers over the last few years. I think this is a good company to hold for the long term as they have pretty consistent cash flow coming from a stable product. They have also been friendly to shareholders in the past with stock buybacks and dividend increases.