Canuck cabler Rogers moves out of the red

Co. posted net income of $13.1 mil for the first quarter

Growth in its telco, cable and cellular phone biz are driving a turnaround quarter for Rogers Communications, Canada’s largest cabler, which shook off the red ink Tuesday to post C$14.8 million ($13.1 million) in profits as well as a 28% jump in revenue.

Toronto-based Rogers posted net income of $13.1 million for the first quarter ended March 31 — after losing $40.6 million the same quarter a year ago — on revenue that leapt 28% to $1.77 billion.

There was a boost in revenue from all three operating divisions. Wireless revenue climbed 20% to $928 million, a 53.2% jump to $684 million for the division (recently renamed cable and telecom) to include the company’s foray into the phone biz. There was a 9.5% increase in media revenue to $212 million, thanks in part to increased ad revenue at Sportsnet due to the return of ice hockey.

The company’s vidstore business continues its decline, with a revenue dip of 3% to $71.6 million, which includes $4.2 million in videostore closure costs.

During the quarter, Rogers added 50,000 digital cable subscribers, and the number of high-speed Internet subscribers grew by 40,300.

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