{"id":5013,"date":"2018-04-12T11:03:44","date_gmt":"2018-04-12T15:03:44","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=7c2b51128f2438cdf9410e3ba32686ec"},"modified":"2018-04-12T11:03:44","modified_gmt":"2018-04-12T15:03:44","slug":"shaw-profit-handily-beats-expectations-as-wireless-subscriber-growth-doubles","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/12\/shaw-profit-handily-beats-expectations-as-wireless-subscriber-growth-doubles\/","title":{"rendered":"Shaw profit handily beats expectations as wireless subscriber growth doubles"},"content":{"rendered":"<p>Shaw Communications Inc&#8217;s quarterly profit easily topped analysts&#8217; estimates on Thursday as the Canadian telecom services company&#8217;s wireless subscriber additions more than doubled from a year earlier.<\/p>\n<p>The company, however, posted a quarterly loss in its fiscal second quarter as it recorded charges of $417 million related to its voluntary departure and restructuring programs.<\/p>\n<p>Shaw has been building up its wireless business after acquiring Canada&#8217;s fourth-largest wireless company Wind Mobile in 2016 and rebranding it as Freedom Mobile.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/opinion\/canada-just-took-a-step-to-avoiding-the-wireless-disaster-that-hit-europe\">Canada just took a step to avoiding the wireless \u2018disaster\u2019 that hit Europe<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/telecom\/subscriber-surge-may-be-tough-act-to-follow-for-wireless-giants\">Subscriber surge may be tough act to follow for wireless giants<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/telecom\/canadians-complaints-about-wireless-internet-telephone-and-tv-services-surge-73-watchdog-says\">Canadians\u2019 complaints about wireless, internet, telephone and TV services surge 73%, watchdog says<\/a><\/li>\n<\/ul>\n<p>The company said it added 89,702 net subscribers during the three months ended Feb. 28, from 33,427 a year earlier.<\/p>\n<p>Barclays analyst Phillip Huang had estimated net additions of 45,000.<\/p>\n<p>The increase in wireless subscribers was helped by demand for Apple Inc&#8217;s iPhones, which Shaw started offering in December, and its data-centric service plans, the company said.<\/p>\n<p>Customers on Shaw&#8217;s network paid $38.43 on average, a $2 increase over a year earlier.<\/p>\n<p>Shaw in January offered voluntary departure packages to its 6,500 employees. About 3,300 employees have accepted the offer, the company said in February.<\/p>\n<p>The company reported a net loss of $164 million, or a loss of 33 cents per share, compared with a profit of $147 million, or 30 cents per share, a year earlier<\/p>\n<p>Adjusting for the charges, the Calgary-based company earned 50 cents per share, beating the average analyst estimate of 28 cents, according to Thomson Reuters I\/B\/E\/S.<\/p>\n<p>Revenue rose 12.4 per cent to $1.36 billion.<\/p>\n<p>Revenue in the company&#8217;s wireline division, which accounted for more than three-fourths of total revenue, remained flat at $1.07 billion.<\/p>\n<p>\u00a9 Thomson Reuters 2018<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shaw has been building up its wireless business after buying Wind and rebranding it Freedom Mobile<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/5013"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=5013"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/5013\/revisions"}],"predecessor-version":[{"id":5016,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/5013\/revisions\/5016"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=5013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=5013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=5013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}