Shaw Communications Inc. said Wednesday its third-quarter profits rose 28% to $203 million as it booked stronger revenues but saw a decline in the number of cable subscribers.
The Calgary-based telecommunications company said its earnings were equal to 45 cents per share. Analysts had expected a profit of 42 cents per share, according to Thomson Reuters.
In the same period a year earlier, Shaw posted a profit of $158 million or 37 cents per share.
Operating revenue rose 36$ to $1.28 billion, slightly above expectations of $1.26 billion and above the $943.6 million Shaw took in the same quarter last year.
Shaw said it faced a decline in the number of cable subscribers during the period, with 13,577 fewer customers, compared to 2,322 added in the year-ago period. Internet customers grew by 11,165 subscribers, an increase of about 0.6%.
Shaw has been restructuring its operations in recent months and CEO Brad Shaw highlighted that the latest results show improvements driven by the changes.
“Our third-quarter financial results reflect a marked improvement over the second quarter and include a partial quarter of cost savings that resulted from the actions we undertook to streamline our organizational structure,” he said in a statement.
“We remain focused on continuous innovation and product leadership to enhance the customer experience.”
