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Shaw Communications revenues drop 1.5% in fourth fiscal quarter

30 Nov 2022

Canadian quadruple-play network operator Shaw Communications (including Freedom Mobile) reported that its revenues reached CAD1.356 billion (USD1.004 billion) in its fourth fiscal quarter ended 31 August 2022, a 1.5% drop year-on-year. Quarterly EBITDA improved by 1.6% y-o-y to CAD624 million, although three-month net profit declined by 32.9% y-o-y to CAD169 million.

Fourth-quarter mobile division revenue increased 1.2% y-o-y to CAD325 million and mobile EBITDA of CAD123 million improved 16.0% y-o-y. Wireline division revenue for the June-August 2022 period stood at CAD1.03 billion with Wireline EBITDA of CAD501 million – decreasing 2.4% and 1.4% respectively y-o-y. Consumer Wireline revenue of CAD879 million was down 3.4% compared to the year-ago period as fixed broadband internet revenue growth was offset by declines in video, satellite and fixed voice revenue and subscriptions. Business Wireline revenue of CAD155 million showed a 4.0% y-o-y improvement, however, based on internet turnover growth and continued demand for Shaw’s ‘Smart’ product suite.

In the quarter, the group added 52,900 net new mobile subscriptions, with post-paid net additions of 25,600 (the latter falling compared to a year earlier due to ‘competition and moderating demand for Shaw Mobile, partially offset by increasing retail traffic for Freedom Mobile, although not yet to pre-pandemic levels’). Wireline RGUs declined by a net 40,400 in the quarter compared to a loss of 45,400 in the fourth quarter of fiscal 2021; the latest quarter included a gain in consumer fixed internet RGUs of 4,700 offset with declines in video, satellite and fixed voice.

Canada, Freedom Mobile (part of Shaw), Shaw Communications

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