Recession, what recession? Third-quarter revenue and earnings at Rogers Communications soared as the impact of Apple’s 3G iPhone starts to kick in.

Rogers, which in recent years has morphed from a cable monopoly into a wireless phone provider, since July signed up 255,000 iPhone subscribers with three-year plans.

Around 40% of the iPhones activated by Rogers were new customers.

Ted Rogers, president and CEO of Rogers Communications, who unveiled an 84% third-quarter profit jump to $495 million on Tuesday, said iPhone sales helped his company buck a worsening economy.

‘The results for the quarter also clearly reflect the substantial and very successful investment Rogers has made to bring Apple’s iPhone 3G to more than a quarter million Canadians over a very short period of time,’ he said.

Rogers faces higher marketing and subsidy costs to roll out the iPhone. But Ted Rogers said the smart phone will lead to higher wireless revenue and lower customer churn over time.

He also told analysts the 14% rise in revenue to $2.98 billion during the three months to Sept. 30 was ‘respectable’ in the face of a deteriorating economy that Rogers was well-financed to endure.

Wireless revenue represents the bulk of Rogers’ business, at $1.72 billion during the third quarter, against $1.44 billion in 2007.

Cable revenue contributed another $724 million, compared to $657 million.

Rogers’ media division posted revenue up 14% to $386 million. Division head Tony Viner told analysts that Rogers Sportsnet gained market share in subscriber fees and airtime sales during the latest quarter.

Viner added Rogers’ radio business was partially insulated during the economic downturn because of a focus on local ad sales.

Rogers also operates OMNI- and Citytv-branded over-the-air TV stations countrywide, which are more subject to a national advertising slump as consumers pull back on spending.

Rogers during the third quarter launched two new OMNI stations in Edmonton and Calgary to extend its multicultural TV station reach to around 75% of the country’s ethnic audiences.

Rogers had 2.31 million basic cable customers at the end of the third quarter after adding another 18,000 subscribers. It also added 29,000 high-speed Internet subscribers to get to 1.56 million in all, while it signed up another 110,000 digital cable subscribers for a base of 2.14 million households.