Shaw Communications Q2 Profit Declines

(RTTNews) - Shaw Communications Inc. (SJR) announced 9.7 percent decline in second-quarter net profit, while revenues were down 2.0 percent from the previous year.

The company recorded a quarterly net income of C$196 million, down from C$217 million in the previous month. On a per-share basis, earnings were C$0.39, down from C$0.43 in the same quarter last year. Second-quarter wireless ARPU declined 1.1 percent from the prior year. Subscriber growth in wireless services supported a revenue increase of 9.2 percent in that segment.

The Canadian telecommunication company added approximately 16,900 new Wireless customers in the second quarter. Postpaid net additions were approximately 8,600.

Further, the company noted that regulatory approval for a combination of Rogers and Shaw is obtained. The closing of the transaction is expected in the first half of 2022.