Smartphone penetration, usage growth, drives Rogers' Q1

TORONTO – Rogers Communications delivered a bit of a surprise to Bay Street late Monday afternoon with more positive first quarter results than some were predicting.Revenue in the quarter ended March 31, 2011 increased 4%, compared to Q1 2010, to $3 billion, wireless net post-paid additions came in at 45,000 and a record number of new smartphones (534,000, compared to 348,000 in Q1 ’10) were added to its grid via new smartphone customers and others upgrading their handsets. Wireless data revenue growth also stayed strong at 30% ($542 million) and margins were 49%.The company also noted that wireless data revenue...