Rogers beats profit estimates as wireless adds more users

(Reuters) - Rogers Communications Inc topped analysts’ estimates for quarterly profit on Thursday, as more subscribers signed up for the Canadian telecom company’s wireless postpaid services.

Canada’s largest wireless service provider added 122,000 net postpaid wireless subscribers, compared with 93,000 a year earlier, while the average wireless customer paid 4 percent more per month at C$64.80.

The results come when Shaw Communications has been underpricing rivals to penetrate the Canadian wireless market dominated by Rogers, Telus Corp and BCE Inc.

Rogers said net income rose to C$538 million ($406.34 million), or C$1.04 per share, in the second quarter ended June 30, from C$528 million, or C$1.02 per share, a year earlier.

Revenue rose to C$3.76 billion from C$3.62 billion.

Excluding one-time items, Rogers earned C$1.07 per share, while analysts had on average expected C$1.05, according to Thomson Reuters I/B/E/S.

($1 = 1.3240 Canadian dollars)