Shaw Communications Q4 earnings fall, despite raised revenues

Cable revenue rose 2.4% to $803 million on rate increases and customer growth in internet and digital phone, while media division revenue increased 3.3% to $217 million.
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Western Canadian cable giant Shaw Communications has posted lower fourth quarter earnings, despite higher revenue. Calgary-based Shaw posted earnings for the three months to Aug. 31 at $133 million, off 20% from a profit of $167 million in 2011.

Excluding one-time items, Q4 earnings would have been $153 million, Shaw reported. Total revenue rose 2.5% to $1.21 billion. Cable revenue rose 2.4% to $803 million, as rate increases and customer growth in Internet and digital phone offset fewer basic cable subscribers. Satellite TV revenue was up 2.9% to $213 million, and media division revenue increased 3.3% to $217 million.

The fourth quarter is typically the weakest for media revenue as it spans the summer months, and comes ahead of the fall season premieres.

From Playback Daily