Shaw fiscal Q2 revenues up 3.7%

Canadian cableco Shaw Communications has reported the results for its fiscal second quarter ended 29 February 2020, including mobile subsidiary Freedom Mobile. Consolidated revenue increased by 3.7% year-on-year to CAD1.36 billion (USD976 million) while adjusted EBITDA rose 9.5% to CAD600 million including a CAD41 million positive impact from IFRS 16 standards adoption. Three-month net income reached CAD167 million, compared to CAD154 million a year earlier. In the quarter, Freedom added 54,200 net post-paid customers, building its wireless subscriber base to 1.767 million, while improving ARPU by 3.1% y-o-y. Shaw’s consumer fixed internet customer base grew by 6,100 in the quarter to 1.923 million while video (pay-TV) losses improved over the prior year due to the success of customer segmentation initiatives, including BlueCurve Total and Freedom Home Internet bundles. The Shaw Business division increased its revenue by 4.3% y-o-y to CAD144 million in the quarter, or by approximately 5% if excluding prior-year revenue from the sale of the Calgary1 Data Centre in August.