Rogers’ smartphone push fails to juice earnings
The rush to smartphones isn’t paying off for Canada’s biggest wireless company.
Rogers Communications Inc. (RCI.B-T39.020.020.05%)saw declines in virtually every aspect of its business in the past quarter, led by a surprisingly weak performance in its critical wireless business.
Although Rogers continues to add subscribers at a healthy clip as customers flock to iPhones and other sleek devices, they are increasingly becoming budget conscious and opting for lower-cost data plans. That led to a slowdown of its wireless data revenue growth rate.