Shaw Communications said it lost 20,758 cable TV subscribers in the second quarter, an improvement over the year-ago period when it lost 29,525 customers, but still part of an ongoing customer drain. The Canadian MSO added 12,767 high-speed data customers, compared to 7,675 in the year-ago period and now has 1.98 million cable TV subs and 1.9 million Internet subs to go along with 892,837 satellite TV customers (down 1,405 in the quarter).
Shaw's cable division reported a 3 percent jump in revenue to $839 million ($764.6 million U.S.) and its satellite TV revenue was up 5.2 percent to $220 million ($200.5 million US). Overall, Shaw reported revenue of CA$1.27 billion ($1.16 billion), or 2 percent higher than the year earlier period. The Canadian company also reported earnings of CA$222 million ($202.3 million).
The gains were, at least in part, due to the sale of two French-language channels that were dispatched as the company continues to focus on expanding its digital business, executives said.
"Our focus on leading technology, customer service and value leadership continued throughout the quarter," CEO Brad Shaw said, noting that the company expanded its Shaw Go Wi-Fi to over 35,000 hotspots and launched new apps for its TV Everywhere service. "We continue to leverage our leading network infrastructure and high quality content, driving profitability and long term growth."
Almost as a boilerplate, Shaw emphasized that the company will continue to focus on "disciplined and sustainable growth, customer retention and driving performance through continuous improvement."
For more:
- see this press release
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