It seems like Canada’s largest carrier continues to roll, with a strong Q2 increase in revenue and profit. The Toronto-based telecom increased revenue by 16% to 2.5 billion CDN, and consolidated operating profit also improved by 20% to 898 million CDN. Interestingly, the company posted a net lost for the quarter, due to the introduction of a cash-settlement feature for stock options, which resulted in a one-time C$452 million non-cash charge to earnings (talk about taking one in the bread basket).
Of course, Rogers is still nowhere near the size of its American compatriots, but Ted Rogers has to be happy with what he’s seeing. Maybe he can use his company’s growth as leverage to get the iPhone above the 49th parallel sooner rather than later.