In a tale of two providers, Canadian cable operator Cogeco said it's raising financial guidelines thanks to a stronger-than-expected first quarter while fellow operator Shaw Communications (NYSE: SJR) is, according to the Times Colonist of Victoria and Vancouver, "confronting its share of obstacles in the coming quarters."
For Cogeco the future is bright even though revenue was below analysts' expectations. That's because profit was well ahead of a consensus estimate.
Shaw, on the other hand, still occupies the Canadian catbird's seat with new CEO Bradley Shaw inheriting a company that has "an enviable market position as the incumbent television and broadband provider in Western Canada." Still, Shaw, the son of company founder JR Shaw and brother of recently departed CEO Jim Shaw, admitted rivalries with increasingly aggressive Canadian telcos present some "challenges." Shaw, like its counterparts to the south, is also experiencing subscriber erosion with 7,500 basic subs quitting in the most recent quarter.
Cogeco to trial cable's ad-vantage
Jim Shaw leaving Shaw Communications' top spot early