Freedom Mobile powers Shaw’s Q1 growth, cable video subscriber base declines

Shaw Communications Inc. beat analyst estimates with a virtually 70 per cent improve in its first-quarter revenue as progress at Freedom Mobile and its enterprise companies unit offset flat outcomes at its core residential companies.

The Calgary-based firm earned $187 million or 36 cents per share within the quarter ended Nov. 30, up from $111 million or 22 cents per share a 12 months earlier.

Its general income was up 8.Eight per cent year-over-year, rising to $1.36 billion from $1.25 billion a 12 months in the past.

Analysts on common had anticipated a revenue of 34 cents per share and $1.32 billion in whole income, in line with Thomson Reuters Eikon.

66Ok new wi-fi subscribers

Shaw’s wi-fi division, which operates as Freedom Mobile, elevated income by 60 per cent to $273 million with 66,000 web subscriber additions, whereas income enterprise companies division grew 5 per cent to $147 million.

Income from Shaw’s core residential companies was flat at $936 million because it misplaced cable and satellite tv for pc video subscribers and residential telephone prospects, however gained web subscribers.

https://www.cbc.ca/news/canada/calgary/shaw-q1-growth-1.4977063?cmp=rss

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