Canadian Wireless Carrier Rogers Cashes In On Smartphones

Canadian wireless carrier Rogers has posted higher-than-expected profits and revenue in the first quarter of 2011, building on rise in popularity of Smartphones.

The company reported a net income of Canadian $335 million or 60 cents a share down from $368 million or 62 cents a share from the same quarter last year.

However, after excluding some items, the net income was at $423 million or 76 cents per share topping analyst estimates of 72 cents a share.

The company also revealed that its revenue during the first quarter ending March 31st increased by four percent to $2.99 billion, out of which $1.72 billion was contributed by its wireless division, $953 million was generated by its cable TV services and media entertainment services generated revenue of $339 million.

“We've maintained solid top line growth rates as a result of continued investments in our customer relationships, networks and products supported by a sharp focus on wireless data and subscriber retention initiatives,” Nadir Mohamed, President and Chief Executive Officer of Rogers Communications, said in a statement.

“While at the same time, our successful focus on managing costs has enabled continued strong margins and the generation of substantial free cash flow,” he added.