Rogers Communications Inc. has reported $497 million in adjusted net income in the second quarter, a 4% increase from last year and better than analysts’ consensus estimate.
Analysts had expected the Toronto-based wireless, cable and media company to have $491.95 million of adjusted net income.
Net income was also higher than expected, at $532 million or 93 cents per share – $22 million above the estimate and up from $413 million or 77 cents per share a year earlier.
Revenue grew 3% to $3.2 billion.
Rogers said it had 98,000 net new post-paid wireless subscribers versus 87,000 year-over-year. Those were customers who are usually on lucrative three-year smartphone contracts.
The company said 72% of its wireless customers now have smartphones compared with 63% in the same quarter last year.
