- Rogers Communications (NYSE:RCI) grew revenues more than 5% in Q1, though adjusted net income slipped some 19% and missed expectations due chiefly to an 8% increase in depreciation and amortization.
- Revenue by segment: Wireless, C$1.79B (up 4%); Cable, C$870M (up 1%); Business Solutions, C$94M (flat); Media, C$464M (up 26%).
- Adjusted operating profit fell 3% (Wireless -3%, Cable -2%, Media -33%, Business Solutions stable). Wireless results were affected by selling more subsidized smartphones, while Cable results saw impact from investments in programming and customer value enhancements.
- Postpaid average revenue per account rose to $107.47 from the prior year's $103.10. Total network revenue of C$1.67B was up from previous C$1.64B, tempered by a slight drop in average wireless postpaid accounts (to 5M from 5.1M).
- The company says it activated 700K smartphones (32% new subscribers); smartphone customers represented 83% of wireless postpaid subscribers at Q1's end.
- Consolidated free cash flow of C$266M (-25%). Cash from operating activities of $227M.
- Press release