Strong Apple iPhone Sales Boost Roger Communications Q3 Profits

Toronto, Ontario (AHN) - Rogers Communications, Canada's largest telecom firm, reported a $495 million third quarter net income on Monday primarily boosted by strong sales of Apple's iPhone.

The smart phone resulted in an 84 percent surge in Rogers' profit, up by $0.78 a share from $269 million profits for the same quarter last year. Revenue also went up by 14 percent to $2.98 billion, higher than analysts' estimates.

Rogers launched the iPhone on July 11. Since then the firm's wireless division has activated about 255,000 of the Apple smart phone, one-third of which belong to new subscribers.

Ted Rogers, company chief executive officer, in a statement, said, "The double-digit revenue growth and continued healthy level of subscriber additions that Rogers generated in the third quarter reflect the quality and utility of our service offerings in the face of an increasingly challenging economic backdrop which we are well financed to endure."

Other revenue drivers for Rogers were its Internet cable business which grew by 29,000 subscribers during the third quarter to 1.6 million clients and its digital cable services which has a total customer base of 1.5 million.