Shaw Communications Q3 earnings up
Revenue hike on soaring digital cable businessTORONTO -- Canadian cable operator Shaw Communications on Friday recorded slightly higher third-quarter earnings on a soaring digital cable business.
Calgary-based Shaw saw profits to May 31 rose to CAN$132 million ($114 million), against earnings of CAN$128.1 million in 2008.
Shaw, which dominates the western Canadian cable market, saw revenue jump 9% to CAN$861.4 million ($744 million), against a year-earlier CAN$792.2 million.
Shaw added 9,622 basic cable subscribers during the latest quarter to get to nearly 2.3 million, and a record 110,810 digital cable customers for 1.18 million in all.
"Strong subscriber growth and solid operational performance delivered financial results year-to-date that keep us on track to achieve our financial guidance for the year, including generating free cash flow of at least $500 million," Shaw CEO Jim Shaw said in a statement.