Rogers‘ 1st quarter results show strong subscriber growth with the wireless carrier having reported that in the first quarter of 2017 they have seen a year on year increase of postpaid net additions by 46,000 compared to the same time last year. This year’s postpaid net additions were recorded at 60,000 which means that last year Rogers had 14,000 new postpaid net additions. This is a big increase for Rogers and certainly in a valuable area as new customers means more opportunities for customer loyalty. This wasn’t the only area where Rogers Communications saw positive changes though.
Due in part to their new customer adds, Rogers also saw an increase in their overall revenues for the first quarter this year compared to the first quarter in 2016. Rogers’ revenue spans across four different categories which includes wireless, cable, media, and business solutions. two of the categories saw an increase in revenue to add to the overall total revenue increase, with wireless contributing the biggest chunk at nearly $2 billion, with the results listing an exact total revenue from wireless alone at $1.968 billion, compared to last year’s results which saw a wireless revenue of $1.89 billion, which accounts for a 4 percent increase in overall wireless revenue for the company. The second category which saw an increase was media, having jumped from $448 million in the first quarter of last year to $474 million this year.
The other two categories for revenue were cable and business solutions, with cable having accumulated $855 million in revenue this year compared to $856 million in 2016, and business solutions seeing a drop from $96 million last year to $95 million this year. While these were decreases in revenue, the margin was only by $1 million in each segment and was more than offset by the other two which looks pretty good for Rogers. For Rogers total revenue in the fist quarter of this year, the company recorded $3.338 billion compared to $3.245 billion the previous year. Rogers also saw a boost in their adjusted operating profit which was up from $1.101 billion last year to $1.166 billion this year. Net income was recorded at a total of $294 million compared to $230 million at the same time in 2016, while adjusted net income was up from $245 million to $329 million, and total revenue service is up from $3.085 billion to $3.214 billion.