January 25, 2018 / 12:32 PM / 8 months ago

UPDATE 1-Rogers Communications profit beats on higher wireless margins

(Adds details on wireless margins, analysts’ estimates)

Jan 25 (Reuters) - Rogers Communications Inc, Canada’s largest wireless provider by market share, reported a quarterly profit on Thursday that narrowly beat estimates on higher margins from its wireless subscribers.

An average Rogers wireless customer paid C$63.46 a month for service, up from C$60.72 a year ago.

Postpaid customers, who typically spend much more than those who prepay, paid C$6.64 extra during the quarter from a year earlier.

Net income was C$419 million ($340 million) in the last three months of 2017, compared with a loss of C$9 million a year earlier, when it took a C$484 million impairment charge after scrapping development of its own internet-based television product in favor of a Comcast product.

On an adjusted basis, the Toronto-based company earned 88 Canadian cents per share. Analysts had on average expected earnings of 86 Canadian cents, according to Thomson Reuters I/B/E/S.

Revenue rose 3.5 percent to C$3.63 billion.

$1 = 1.2318 Canadian dollars Reporting by Alastair Sharp in Toronto and Ahmed Farhatha in Bengaluru; Editing by Maju Samuel and Martina D'Couto

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