Shaw says wireless revenue up in Q1 but phone and video revenues down

by The Canadian Press as published by TriCityNews.com

CALGARY — Shaw Communications Inc. says earnings dipped in its first fiscal quarter of 2020 even as wireless revenue climbed.

The Calgary-based telecom company says net income came in at $162 million or 31 cents per share for the quarter ending Nov. 30, down from $186 million or 36 cents per share for the same quarter last year.

Shaw says the comparative decline for the first quarter was largely because of a $23 million equity income in the quarter last year from its investment in Corus Entertainment Inc.

Revenue in the quarter was $1.38 billion, up from $1.35 billion last year as wireless service revenue was up 18.1 per cent, including net postpaid additions of about 67,000 in the quarter.

Analysts had expected earnings of 33 cents per share, while revenue was in line with expectations, according to financial markets data firm Refinitiv.

Read more HERE.

Published on January 13, 2020 at 9:12 am by boredop

Comments

January 14, 2020 - 2:52 am

oh brother

Their future lies with Freedom Mobile, as landlines and cable TV seem to be going the way of the dinosaur. I suspect their Internet business is still doing well, and with all these streaming video services – will continue to flourish.


January 16, 2020 - 8:10 am

Newsman

Anyone here using Shaw’s BlueCurve TV service? Quite impressive. Got me to reverse course on cord cutting.


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