TORONTO — Rogers Communications, Canada’s largest cable TV operator, posted a first-quarter loss of C$64.8 million ($47.9 million) due to the rise in the value of the U.S. dollar against the Canadian dollar.
Net income was $17.4 million in the same period a year earlier, the Toronto-based company said. Sales rose 13% to $928 million.
The cable TV and Internet services division reported an 8.8% increase in operating profit to $126 million, fueled by 9.3% growth in revenue to $348 million. The unit’s sales and marketing expenses jumped 39%.
Rogers added 38,000 Internet subs and 27,900 digital TV customers in the quarter. The company lost 3,400 basic cable TV subscribers.
Growth at Rogers’ wireless unit, which reported a 41% increase in operating profit as it added 53,800 clients, was wiped out by a $35 million foreign-exchange loss.
The wireless unit’s operating profit rose to $162 million in the first quarter from $115 million year ago.
At the end of March, Rogers had 828,500 Internet subscribers, 2.27 million basic cable clients, 563,200 digital customers and 3.8 million wireless subs.