Rogers was the first incumbent to report its second quarter earnings and surprised analysts with its stunning wireless performance: the carrier has reported a spike of 170% in wireless subscriber additions for the three month period which ended on June 30 (via Financial Post).
Revenue and operating profit for the quarter was $3.45 billion and $1.34 billion respectively, mostly in line with expectations. However, the surprise element was the 65,000 postpaid net additions Rogers reported. This is 41,000 more Rogers has added during the same period a year prior.
As highlighted in the press release announcing the earnings, wireless revenue increased 5% in the second quarter and 4% year-to-date, thanks to the larger subscriber base, and continued adoption of Rogers Share Everything plans.
Blended ARPU (average revenue per user) a key metric in a carrier’s performance, was $60.18, up $0.17 compared to the same quarter a year prior.
Rogers also reported 12,000 new customer signups for Internet services, the most new customers in the past eight years. Nearly 40% of residential internet customers chose the 10 Mbps or higher internet speeds, according to Rogers CEO Guy Laurence.
Following the cuts in the media segment, Rogers has reported now a 6% increase in revenue for Q2 and a 2% increase year to date, as sports-related revenue increased driven by Sportsnet and the success of the Toronto Blue Jays. This increase in revenue was partially offset by lower advertising revenues across radio, publishing, and broadcast TV, the release reads.