Shaw Communications increases earnings, despite lower cable subs

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Shaw Communications on Tuesday grew its first quarter earnings after generating higher subscriber fees and spending less on promotions.

But the Calgary-based cable giant also continues to lose cable subscribers to rival Telus Corp. in Western Canada.

Earnings for the three months to Nov. 30, 2013 rose 4.3% to $245 million, as total revenue increased 3.3% to $1.36 billion.

But faced with competition from Telus’ Optik TV service, Shaw saw its cable customer base fall by 29,619 subscribers during the first quarter to stand at a base of 2.01 million, as of Nov. 30.

Shaw also lost 9,323 satellite TV subscribers during the latest financial frame, for a customer base of 894,242.

The Shaw Media division saw revenue rise 1.9% to $306.8 million, as increased TV subscriber revenue offset lower advertising sales.

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