Co.'s wireless phone ops accounted for $181 mil in rev
MONTREAL — Revenue at Canuck cable operator and broadcaster Rogers Communications was up 21% for the three months ended Dec. 31 to C$1.6 billion ($1.3 billion) from $1 billion a year earlier, the company reported Tuesday.
Company’s wireless phone ops accounted for $181 million in revenue, with cable kicking in $27 million, broadcasting and publishing $2 million and the Toronto Blue Jays baseball team $16 million.
Operating profit for the fourth quarter at Toronto-based Rogers — the country’s leading cable operator — was $365 million, up 22% from $299 million in the year-earlier period.
Rogers reported a net loss in the quarter of $12 million, down from a profit of $56 million in the quarter a year earlier, due to increases in depreciation and amortization and interest on long-term debt.
Operating revenue for the year-end was $4.5 billion, up from $3.9 billion the year before. Operating profit for the year was $1.4 billion — an increase from $1.2 billion the previous year. Rogers reported a loss on the year of $11 million compared with profit a year earlier of $105 million.
Rogers’ broadcasting and publications divisions reported strong results from its radio stations, the Shopping Channel and Rogers Sportsnet, which more than offset continued softness in certain publications. The broadcasting and publications division reported 22.5% growth in operating profit in the quarter compared with the same quarter a year earlier.
In late December, Rogers’ broadcasting division acquired the 20% interest in sports specialty channel Rogers Sportsnet held by Fox Cable Networks and now owns Sportsnet outright.