Rogers neighborhood gets richer

Operating revenue up 11%

MONTREAL — Canuck cable operator and broadcaster Rogers Communications reported an upswing in both revenue and profit for the second quarter, it was announced Tuesday.

Operating revenue for Rogers increased to C$2.8 billion ($2.7 billion), up 11% from $2.5 billion in the second quarter last year. Net income for the quarter ended June 30 was $294 million, compared to a loss of $55 million in the same quarter the previous year.

Operating revenue for the six- month period was $5.3 billion, up 12 percent from the first six months of the past year, when operating revenue was $4.7 billion. Net income for the first six months of this year was $629 million, up from $111 million in the same period last year.

The positive results in the second quarter came thanks to growth in cable and wireless subscribers, and growth in Rogers’ broadcasting business.

Roger Cable’s Internet subscriber base increased by 13,000 to 1.5 million and digital cable households grew by 23,000 to reach 1.4 million. Rogers’ wireless phone division had also announced that it was launching the Apple iPhone in Canada this month.

Rogers is now a bigger player in the broadcast biz, with its acquisition last year of the City-tv network. It also owns Rogers Sportsnet, the Shopping Channel, the Omni TV channels, and specialty channels Biography and G4TechTV.

The company’s broadcasting division reported an upswing in revenue, with revenue increasing 18% to $399 million, up from $339 million. For the six-month period, the broadcasting division reported an increase in revenue of 17% to $698 million, up from  $599 million a year earlier. The increase in broadcasting revenue is mostly due to the acquisition of the City-tv stations, a deal that closed on Oct. 31.

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