Competition pulls down Q2 profits at Rogers

TORONTO – Competition continued to weigh on Rogers, pulling down second quarter profits and holding revenues flat. Consolidated financial results released Tuesday for the three months ended June 30, saw revenue of $3.12 billion virtually unchanged from $3.10 billion in same period last year, while profits dipped 2% to $400 million from $410 million. Wireless activated and upgraded approximately 629,000 smart phones this quarter, predominantly iPhone, BlackBerry and Android devices, of which approximately 36% were for new subscribers. This means that smart phone subscribers now represent 63% of the company’s overall postpaid subscriber base, up from 48% in the same period...