Wednesday, February 22, 2012

Rogers Fourth-Quarter Profit Up 8.3%

Rogers Communications said fourth-quarter earnings rose 8.3 percent, helped by increasing wireless revenue as customers spent more time on their smartphones.
Net income climbed to $327 million  or 61 cents a share, from $302 million, or 50 cents, a year earlier, the company said today in a statement. Rogers also said it will buy back as much as C$1 billion of stock and raised its annual dividend by 11 percent to C$1.58 a share.
Chief Executive Officer Nadir Mohamed is trying to stay ahead of BCE Inc. (BCE) and Telus Corp. (T) by touting Rogers’s network speed while also promoting its no-frills Chatr business. BCE and Telus posted quarterly earnings that trailed estimates as they spent more subsidizing expensive smartphones to avoid losing subscribers to Canada's new carriers that offer mainly cheaper, contract-free plans.

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