Shaw Communications Inc. reported better-than-expected third- quarter results today thanks to a growing base of digital, cable and Internet subscribers.
“Through our focus on the delivery of a superior customer experience and our disciplined management approach, we excel in the marketplace and drive sustainable, profitable growth,” said chief executive Jim Shaw, in a release.
“We remain on track to deliver on our financial guidance for the consolidated cable and satellite segments, including free cash flow comparable to 2009.”
Meanwhile, the company continues to press ahead with plans to enter the highly competitive wireless business. During the quarter, the company spent $9 million and aims to invest up to $100 million through to the end of the fiscal year.
Shaw said earlier this week it picked Nokia Siemens Networks as the provider of key equipment for its wireless business, which is set for a late-2011 rollout.
The Calgary-based cable company reported net income of $158 million for the three-month period, compared to $132 million a year ago.
That’s worth 37 cents per share, topping analyst expectations of nearly 34 cents per share, according to a Thomson Reuters poll.
Revenue increased 10% to $943.6 million.
