Shaw Communications increases earnings, despite lower cable subs
The western Canadian cable giant lost 29,619 cable subscribers and 9,323 satellite TV customers, while adding internet access customers.
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.
From Playback Daily