Rogers profit spikes up 40%
Wireless unit takes in biggest chunk of revenue at $1.97 billion
The company that owns the Toronto Blue Jays, their home at the Rogers Centre and one of the country's three largest wireless networks is reporting a big increase in third-quarter profit.
Rogers Communications says it had $464 million of net income in the three months ended Sept. 30, up $132 million or nearly 40 per cent from the same time last year.
Its adjusted net income was slightly higher at $472 million or 92 cents per share and total revenue from its telecommunications, media and sports businesses was $3.38 billion.
The wireless business that includes Rogers, Fido and Chatr services accounted for the biggest chunk of revenue at $1.97 billion, followed by cable television at $871 million and media at $473 million — all up from last year.
Rogers chief executive Guy Laurence says the Toronto-based company has been making steady progress towards reviving its business and updating its technology, inlcluding a planned increase in the top speed of its residential Internet service.
"To top it all, the Toronto Blue Jays made it to the American League Championship Series. It's been amazing to see the city and the country rally behind Canada's baseball team," Laurence said.