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Shaw Announces Second Quarter and Year-To-Date Fiscal 2018 Results
CALGARY, Alberta, April 12, 2018 (GLOBE NEWSWIRE) -- Shaw Communications Inc. (TSX:SJR.B) (TSX:SJR.PR.A) (TSX:SJR.PR.B) (NYSE:SJR) (TSX-V:SJR.A) announces consolidated financial and operating results for the quarter ended February 28, 2018. Revenue from continuing operations for the quarter of $1.36 billion increased 12.4% over the comparable period led by Wireless and Business results. Operating income before restructuring costs and amortization1 for the quarter of $501 million was consistent with results in the second quarter of fiscal 2017. “Our strong second quarter results clearly show that Canadians have a demand for a truly competitive wireless option,” said Brad Shaw, Chief Executive Officer. “Our strategy to grow our Wireless business has been simple: create a wireless provider that offers fairness and value to Canadians and that respects people’s desire to connect when they want, how much they want, and on the iconic devices they want.” “We are successfully executing our Wireless plan. This quarter, which included a very busy holiday season, we set a record with more than 93 thousand net postpaid subscriber additions. The confidence that new and existing customers have in our service has only strengthened our resolve to continue investing in our network while growing our market share through pricing and packaging options, such as our Big Gig data plans,” said Brad Shaw. Shaw continues to improve the Wireless experience for its customers including an expanded distribution platform through our first agreement with a national retailer. Launching in April, Loblaws’ ‘The Mobile Shop’ will sell Freedom Mobile handsets and service plans in approximately 100 of their locations across Canada. In addition, another significant network milestone has been achieved with the refarm of 10 MHz of AWS-1 spectrum now complete across Freedom Mobile’s footprint. The Company continues to actively roll out its 2500 and 700 MHz spectrum which further improves the network quality and will enable additional features such as VoLTE. Brad Shaw continued: “We commend the federal government on its support for strong and sustainable competition, as reflected in the recent announcement of a set-aside for the upcoming 600 MHz auction. This decision will help ensure a future for wireless competition in Canada and is a significant win for all Canadians, who deserve more from their wireless services.” “In the two years since we acquired our Wireless business, we have made significant investments and improvements to our network and our service. We are excited by the tremendous growth potential of this business, and, as shown by our results this quarter, we are committed to delivering a strong and competitive wireless alternative that will benefit all Canadians,” said Brad Shaw. Selected Financial Highlights |