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The company's net income for the quarter increased to C$374 million or C$0.59 per share, from C$301 million or C$0.47 per share reported in the same quarter of last year.
On an adjusted basis, net income rose to C$412 million or C$0.65 per share, from C$364 million or C$0.57 per share, in the year-ago quarter.
On average, analysts polled by Thomson Reuters expected earnings of US$0.59 per share for the quarter on revenues of US$2.95 billion. Analysts' estimates typically exclude one-time items.
Rogers also reported quarterly operating revenues of C$2.89 billion, up 3% from C$2.80 billion in the previous year.
Based on business segments, wireless posted second-quarter operating revenues of C$1.62 billion, up 6% from C$1.52 billion in the previous year. The revenue growth was driven by the continued growth of Wireless' postpaid subscriber base and the year-over-year growth of wireless data.
Total postpaid retail subscribers grew to 6.70 million from 6.10 million a year ago. Total prepaid retail subscribers were 1.45 million, higher than 1.40 million last year. The increase in subscriber additions reflected the growth in activations of smartphone and wireless laptop devices, offset by lower sales of voice-only handsets.
Blended average monthly revenue per user, or ARPU, was C$63.09, compared with C$64.56 in the same quarter last year, reflecting the impact of declines in roaming and out-of-plan usage revenues as customers curtail travel and adjust their wireless usage during the economic recession.
Cable Operations revenue grew 6% to C$763 million from C$718 million last year. Total basic cable subscriptions were down 6%. According to the company, recession has affected new sales of Internet and Home Phone products as customers move residences less and the growth in new home construction has slowed significantly. In response to the weak economic conditions, the Cable business has implemented strategic cost reduction and efficiency improvement initiatives to enable a reduction of operating costs.
Rogers Business Solutions, or RBS, revenue totaled C$125 million, down 4% from C$130 million a year ago. Rogers Retail's revenue dropped 2% in the second quarter to C$90 million from C$92 million in the prior-year quarter.
Media revenues were C$366 million, a decline of 11% from C$409 million in the second quarter of fiscal 2008. Lower media revenues were due to revenue declines at Television, Radio and Publishing, hurt by ongoing industry-wide weakness in the advertising market and at The Shopping Channel. These decreases were partially offset by an increase in subscriber revenue at Sportsnet.
For the first half of fiscal 2009, Rogers' net income was C$683 million, or C$1.08 per share, compared with C$645 million, or C$1.01 per share, in the same period last year. Operating revenue rose to C$5.64 billion from C$5.41 billion a year ago.
Moving forward, Rogers now expects fiscal 2009 revenue growth of 2% to 4%, compared with its prior estimate range of 5% to 9%, provided on February 18. The company also retained its adjusted operating profit growth outlook range of 3% to 8% for the year.
RCI is trading at US$26.81 on the NYSE, down US$1.72, on a volume of 107,854 shares.
On the Toronto Stock Exchange, RCI-A.TO is trading at C$30.60, down C$1.65, on a volume of 1,110 shares. RCI-B.TO is down by C$2.03 and is trading at C$28.95, on a volume of 1.09 million shares.
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