Rogers’ Q4 results are a mixed bag

Early this morning Rogers Communications Inc. posted its fourth quarter 2008 financial and operating results. We’re not at all interested in Rogers Cable and Media and we know all you want to know is its ARPU, churn and smartphone sales so if you please bear with us while we get this out of the way we’ll get straight to it: Rogers posted a loss of $138 million CDN ($109.25 million USD). While it was mostly the Media/Print division that dragged Rogers down (Cable had double-digit growth), Wireless didn’t do much for Rogers in the way of short-term favors as retention costs once again ate up a large amount of cash. Net additions totaled 199,000 with 158,000 of those being locked into lengthy contracts causing a modest 2% increase in ARPU for post-paid subscribers which stood at $74.71. A 36 percent increase in demand for wireless data (which is where Rogers unsurprisingly looks to for 18 percent of its overall network revenue) was attributed as the main factor for the increase. Easily home to the best smartphone line-up in North America, Rogers sold 400,000 units with 160,000 of those going to new subscribers – something which costs Rogers a lot of money in the short-term. At least Rogers can comfort themselves knowing that churn dropped to 1.12 percent. It could be worse, right Bell?

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