South Korea’s largest fixed-line carrier, KT Corp. (KTC), announced third quarter results with reported net income increasing 80% year over year to KRW351.4 billion (US$285 million) or KRW1,497 per share (70 cents per ADS). The annualized growth was driven by gains from wireless and a stronger Korean won versus the US dollar, which helped reduce the cost for foreign currency debt.   Revenues for the quarter increased 3.9% year over year to KRW4.82 triillion (US$1.97 billion), driven by growth in wireless data and subscriber base. However, operating profit declined 11.7% year over year to KRW413.1 billion (US$335 million) due to increase in depreciation and amortisation costs and higher marketing expenses resulting from intense competiion.   KT is battling with its Korean peers SK Telecom (SKM) and LG Dacom to win new customers in a highly matured domestic wireless market, represented by approximately 96% mobile penetration.   ...

Rogers Communications Inc. (RCI) continues to top analysts' expectations and shares are surging.

Company Description

Rogers is a Canadian communications and media company that provides wireless and data services. The company is one of the major Canadian cable television providers, in addition to radio broadcasting.

Revenue Rising

On Oct 27 Rogers released its operating results for the third quarter. Revenue rose 2%, to just over $3 billion. This led to net income of $485 million, or 78 cents per share.

The Zacks Consensus Estimate was just 51 cents, making this the third consecutive earnings surprise for Rogers.

Optimistic CEO

Nadir Mohamed, President and CEO, said, "Importantly, the results of the quarter reflect record high growth in our wireless data revenues which contributed significantly to the strong double-digit adjusted operating profit growth and margin expansion at Wireless..."

Plenty of Revisions

In the past 30 days, 6 analysts have submitted 10 upward estimate revisions for full-year 2009.

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