Competition pulls down profits at Rogers

TORONTO – Increased competition in the wireless industry helped to weigh down second quarter profits at Rogers Communications.Rogers said Tuesday that net income for the quarter ended June 30th was $410 million, down 9% from $452 million in the same period last year. Revenue increased by 3% to $3.12 billion."Rogers delivered a solid performance in the second quarter both for financial and subscriber results, delivering solid growth in a highly competitive environment," said president and CEO Nadir Mohamed, in a statement. "The strength of our asset mix combined with successful execution on our priorities - wireless data growth, customer retention...