Rogers has reported their third quarter earnings and the company has revealed $467 million CAD in profit, led by growth in its wireless division. Revenue for the quarter was $3.58 billion, led by wireless, which took in $2.1 billion.
The company added 129,000 (up 15,000) net postpaid wireless subscribers, an eight-year high according to Rogers, which beat analysts’ estimates of around 116,000. Wireless growth was from customers signing onto higher rate plans, such as Share Everything plans.
Rogers also reported a postpaid churn rate—percentage of customers cancelling or not renewing plans—of 1.16 percent, an improvement of 10 basis points compared to the year-ago-quarter, and what the company says if their best Q3 churn rate in eight years.
Also, a higher blended (postpaid and prepaid) ARPU (average revenue per user) of $63.78 was a result of higher rate plans and increased data usage. The monthly ARPU for postpaid subscribers is $128.54, up $7.15 from last year’s Q3.
“Our third quarter results reflect continued momentum with strong top-line growth and flow-through to adjusted operating profit. Our team delivered on all key operating and financial metrics in our largest segment, Wireless. We significantly grew subscribers, revenue, adjusted operating profit, and margins. We are pleased with our postpaid churn result,” said Joe Natale, President and CEO in a statement.
The cable division of Rogers brought in $870 million in revenue (1 percent growth), while the media division saw $516 million (down 3 percent).
Rogers now has 8,839,000 postpaid subscribers and 1,786,000 prepaid subscribers, for a total of 10,625,000 wireless subscribers.