Wireless powers Rogers' Q4
EmptySharply higher wireless phone revenues helped Canadian cable giant Rogers Communications on Thursday to swing back to a fourth-quarter profit from a loss in 2006.
Toronto-based Rogers Communications posted a profit of CAN$176 million ($152 million) for the three months to Dec. 31, compared with a loss of CAN$67 million in 2005.
Overall fourth-quarter revenues came to CAN$2.37 billion ($2.04 billion), compared with CAN$2.07 billion in 2005.
Rogers Communications in recent years has morphed from Canada's largest cablecaster to a communications play offering bundled cable, wireless phone, Internet and local phone services.
The biggest bounce during the latest quarter came from wireless phone revenues surging 20% to CAN$1.25 billion ($1.07 billion), against a year-earlier CAN$1.05 billion.
Cable and high-speed Internet access revenues came to CAN$505 million ($435 million), up 11.5% from CAN$453 million in 2005.
Rogers Communications' TV station and publishing assets contributed another CAN$317 million ($273.2 million) during the latest quarter, up 5.7% from a year-earlier CAN$300 million.
For the full year, Rogers Communications posted a profit of CAN$622 million ($536 million), against a loss of CAN$45 million in 2005, on total revenues rising 20% to CAN$8.83 billion ($7.6 billion), from $7.3 billion in 2005.