Shaw Communications reports $163M Q1 profit, up from $162M a year ago

Shaw Communications Inc. reported a first-quarter profit of $163 million, up from $162 million in the same quarter a year earlier, as its revenue crept lower.

The cable and wireless company says the profit amounted to 31 cents per diluted share for the quarter ended Nov. 30, unchanged from the same quarter a year earlier.

Revenue totalled $1.37 billion, down from $1.38 billion.

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Shaw says the consumer and business wireline side of its operations earned nearly $1.06 billion in revenue, down from nearly $1.07 billion a year earlier.

Meanwhile, wireless revenue amounted to $317 million, down from $318 million, as wireless service revenue grew but was more than offset by a drop in equipment revenue.

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Shaw says it had record wireless subscriber growth in the quarter with the addition of 101,000 new wireless customers, including 87,300 postpaid net additions and 13,700 prepaid net additions.

© 2021 The Canadian Press

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