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Rogers’ Profits Drop in the Third Quarter

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From the Globe and Mail:

Rogers Communications Inc. saw profit drop by 3 per cent in the last quarter, falling short of analysts’ expectations as Canada’s largest wireless provider continues to suffer from a wave of new competition.

As new companies such as Mobilicity and Wind Mobile continue to push in, and old rivals BCE Inc. and Telus Corp. gain market share, Rogers profit fell to $359-million and 64 cents per share from $370-million and 61 cents per share in the previous year. Revenue was up 3 per cent to $3.2-billion. The company also announced an 11 per cent increase to its annualized dividend, bringing it to $1.42.

…In this most recent quarter, Rogers has continued its decline from the top of the Canadian wireless heap, a decline the company has admitted was an inevitability given how far ahead of its rivals Rogers has been. Its two incumbent wireless rivals have already reported results for this quarter, both of them outperforming Rogers: Bell saw a profit growth of 25 per cent while Telus saw soaring profit growth of 40 per cent. However, all of the so-called Big Three saw a loss in new subscribers due to “competition,” which likely means that many of the new entrants are starting to gain significant traction in the marketplace.

 A few things come to mind:

What do you think? How would you rate your experience with Rogers so far?

[Globe and Mail]

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  • Kurt

    I think my biggest beef is customer appreciation and retention. I’ve been a Rogers customer for 6+ years now and there is no acknowledgement when I call with an inquiry or complaint.

  • Wuju

    I’m glad their profit went down and competition is getting the business cause their plan sucks and double charging on data usage on multiple devices one already paid.

  • Anonymous

    This is a good thing for us because we like to stick it to Rogers when they’re doing poorly. I’ll admit that i’m spiteful enough to be joyful about this, But the fact of the matter is that this is bad, very bad, because now we’ll end up paying more for even less. Though really, it’s not our fault. Try providing better service, at a reasonable price, with adiquate customer service and watch your profits rise again, Robb– Rogers.

    <3 I look forward to giving you 70$ each month. /s

  • 3G Network speeds is driving me away. Bell and Telus work fine at my desk at work in downtown Toronto. Rogers is so slow everything times out. 5 bars 3G, but data speed of 10 kpbs. Fail.

  • Anonymous

    Get used to it Kurt – I’ve been a customer for 15 years and still have to fight over billing issues and screwups every time any change is made. Not to mention the hell I went through after a service rep told me I was eligible for an iPhone 3G upgrade when I called to complain about my Samsung Jack resetting itself all the time. I should have grabbed the offer to ship me the phone right then – but she told me I could take advantage of it at any outlet so I went to the end of the street. They had no idea what I was talking about and I fought for the next month to get the promised price and they only gave it to me when I could do it as an upgrade on my wife’s phone.

  • Anonymous

    Get used to it Kurt – I’ve been a customer for 15 years and still have to fight over billing issues and screwups every time any change is made. Not to mention the hell I went through after a service rep told me I was eligible for an iPhone 3G upgrade when I called to complain about my Samsung Jack resetting itself all the time. I should have grabbed the offer to ship me the phone right then – but she told me I could take advantage of it at any outlet so I went to the end of the street. They had no idea what I was talking about and I fought for the next month to get the promised price and they only gave it to me when I could do it as an upgrade on my wife’s phone.

  • Connymcriner

    Almost done two of my three year contract with Rogers and then I am getting the hell out! So many dropped calls and very poor reception in Halifax NS!!

  • maxgruv

    I’m sick of Rogers. The *only* reason I ever signed up with them was their initial exclusivity with the iPhone 3G. Once my contract expires this summer, I will be switching to TELUS and getting a shiny new iPhone 5! 🙂

  • JumpinJim

    Not a surprise to me at all. Their rates are too high and their customer service is horrendous. I ditched Rogers a long time ago and it looks like many others are following suit.

  • Camera_shy_13

    Rogers is the worst company! All three of them are. Instead of dropping prices because of all the competition, they are raising their prices even more and therefore losing even more of their customers.

    People are so fucking sick of the corporate three internet providers in this country charging whatever the fuck they want because they want to. Enough is enough!

    I’ve been dying to cancel all my services with Rogers and go sign with one of the new competitors which are offering so much more for your dollar then Rogers will ever offer. Even for customer they’ve had for over 8-10 years.

    I say support the companies that support the people and don’t over charge you to be able to communicate with others!

    Protest with your dollars!!!

  • Anonymous

    Maybe now that there felling the pinch maybe they will value their customers?.I know crazy thought, all matters is keeping shareholders happy while gouging the customer. As customer base declines for wind/mobilicity. How does rogers deal with it raise prices. Seems after ted rogers is gone the company went to shit.

  • It looks good on them . That is all. 🙂

  • Anonymous

    At least they have great Retention plans that really don’t compare to the other carriers and are very simple to get.

    As for their service… Well the voice is great, too bad I don’t use much of it. But the data was really only good for a week after I got my iPhone 4 (5-6mbps!) and ever since has been nothing but 1-2mbps 🙁 and when I really need to watch a video it always runs nice and slow.

    As for my other Rogers services…. I’ll switch my Internet once this whole UBB thing is settled to a smaller company. And I’m already on the very basic Cable service (non-digital) of which I hardly use since most of what I watch is available free over the air including US stations!
    cya Rogers!

  • rogershater

    same, i fkn hate rogers now…. the hell with em

  • Anonymous

    Bailed on them as soon as TELUS got the iPhone. Haven’t looked back since.

  • De

    Rogers deserves no respect. Dam commies

  • B Wedow

    We only made $359 million dollars profit, oh boo hoo.

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