Freedom Mobile is star of Shaw’s Q4 as cable, internet provider transforms business

Freedom Mobile is star of Shaw’s Q4 as cable, internet provider transforms business
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CALGARY — Shaw Communications had a $200-million profit in the fourth quarter of fiscal 2018, a year of significant changes for the cable, internet and wireless company as more than 1,300 employees departed through voluntary buyouts.

Net income for the Calgary-based company was equal to 39 cents per diluted share, down from a net income of $481 million or 96 cents per share for the same quarter last year.

Revenue for the quarter ending Aug. 31 was $1.34 billion, up from the $1.24 billion in last year’s fourth quarter.

Wireless division revenue, which comes from Freedom Mobile operations in Alberta, British Columbia and Ontario, was $250 million in the quarter for a 45.3 per cent jump from the comparable period last year.

Revenue from Shaw’s wireline operations, which include residential cable television and internet services in Alberta, British Columbia and Manitoba, increased by 1.3 per cent to $1.09 billion.

Business wireline revenue was up 6.6 per cent at $145 million but consumer wireline revenue was flat at $942 million as rate changes and higher internet revenue were offset by declines in video and phone subscribers.

The company says it will maintain its monthly dividends unchanged through to January 2019.

Companies in this story: (TSX:SJR.B)

The Canadian Press

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