Shaw Communications posts higher Q4 profit but revenue flat compared with last year

Shaw Communications posts higher Q4 profit but revenue flat compared with last year
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CALGARY — Shaw Communications Inc. says its fourth-quarter profit was up 5.4 per cent from the same time last year, but total revenue remained steady at just under $1.35 billion.

The Calgary-based cable, internet and wireless company, which owns Freedom Mobile, earned $175 million in net income for the quarter ended Aug. 31.

The profit amounted to 34 cents per share and compared with a profit of $166 million or 32 cents per share in the fourth quarter of its 2019 financial year.

Most of the revenue was generated by Shaw’s residential and business services, which fell 1.3 per cent to $1.06 billion.

The company’s wireless revenue, anchored by Freedom Mobile and including its new Shaw Mobile service in B.C. and Alberta, rose five per cent to $294 million.

Shaw says it added about 60,000 wireless customers during the quarter, including 45,000 on postpaid plans, bringing the total wireless base to about 1.82 million as of Aug. 31.

This report by The Canadian Press was first published Oct. 30, 2020.

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

The Canadian Press

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