It's Good to be Ted (Rogers)
Talk about letting the good times roll for the cable industry. Today, Rogers Communications posted better-than-expected third-quarter results that provide more evidence how the cablecos are thriving while many carriers are struggling to find any kind of growth. Rogers' operating profits jumped to $784-million, compared with estimates of $727-million, while wireless operating profits were $563-million, compared with UBS Securities' estimate of $511-million. For people looking for insight into the growth of cable telephony, Rogers added 106,000 customers, while losing 24,000 traditional circuit customers (part of Call-Net's operations). In terms of guidance for 2006 as a whole, Rogers is now looking for a $90-million bump in operating profits to $1.9-billion and 300,000 net cable telephone subscribers adds (a 50K bump from the second-quarter). Tags: cable, rogers, VoIP
