Rogers has strong Q1 2008

Rogers Q1 has been very profitable as it has seen revenues grow by 14% to $2.6 Billion and has added 97,000 wireless subscribers. Ted Rogers has announced that the iPhone will finally be coming to Canada later in the year (We are thinking May 21st) but nothing is confirmed yet.

Read the full report here – however here are some highlights of the first quarter of 2008:

– Generated continued strong double-digit growth in quarterly revenue
and adjusted operating profit of 14% and 21%, respectively, while net
income increased 102% to $344 million (or by 45% to $270 million on
an adjusted basis) and adjusted operating profit less interest
expense and PP&E additions rose 94% to $525 million.

– Wireless subscriber postpaid net additions were 97,000, while
postpaid subscriber monthly churn was reduced to 1.10% from 1.17% in
the first quarter of 2007. Wireless postpaid monthly ARPU (average
revenue per user) increased 7% year-over-year to $72.39 driven in
part by the 47% growth in data revenue to $206 million, or 15.1% of
network revenue.

– Fido announced that four years after its launch, Fido Rewards is now
the most successful wireless membership rewards program in North
America having surpassed the one million membership milestone.

– Wireless announced it had reached an agreement with Apple to bring
the iPhone to Canada later this year. Information regarding device
availability and service plans will be announced at a later date.

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