Canadian Manufacturing

Shaw Communications reports $155M Q2 profit compared with a loss a year ago

The Canadian Press
   

Canadian Manufacturing
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Analysts on average had expected a profit of 30 cents per share for the quarter and revenue of $1.37 billion, according to Thomson Reuters Eikon

CALGARY – Shaw Communications Inc. reported a second-quarter profit of $155 million compared with a loss of $175 million a year earlier.

The company says the profit amounted to 30 cents per share for the three cents ended Feb. 28 compared with a loss of 35 cents per share in the same quarter last year.

Revenue for the quarter totalled $1.32 billion, down from $1.33 billion a year ago.

The dip in revenue came as the company’s wireline business, which includes its traditional cable and satellite TV, internet and phone operations, held steady at about $1.07 billion.

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Wireless revenue dipped to $247 million compared with $264 million a year ago as a drop in equipment revenue more than offset an increase in service revenue.

Analysts on average had expected a profit of 30 cents per share for the quarter and revenue of $1.37 billion, according to Thomson Reuters Eikon.

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