Shaw Communications reports $114M Q1 profit, adds 34,000 wireless subscribers

Shaw Communications reports $114M Q1 profit, adds 34,000 wireless subscribers

CALGARY — Shaw Communications Inc. reported a first-quarter profit of $114 million as it ramped up its Freedom Mobile wireless business.

The company (TSX:SJR.B) says the profit amounted to 22 cents per diluted share for the quarter ended Nov. 30, up from $89 million or 18 cents per diluted share a year earlier.

Revenue totalled $1.25 billion, up from $1.22 billion.

Wireless revenue climbed 26.8 per cent to $175 million, while wireline revenue fell 0.4 per cent to $1.08 billion.

During the quarter, Shaw said it added approximately 34,000 wireless subscribers compared with 9,500 net additions in the same quarter a year earlier.

Wireline subscribers fell by approximately 34,000 in the quarter compared with a loss of roughly 30,000 a year earlier.

 

 

The Canadian Press

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