Shaw Communications up in third quarter

Reports earnings of $126 mil, up from 2007

TORONTO -- Canadian cable giant Shaw Communications on Friday posted higher third-quarter earnings on increased cable and wireless phone sales and a tax break.

Calgary-based Shaw reported earnings of CAN$128 million ($126 million), up from CAN$92 million in 2007, as revenue for the three months to May 31 rose 13% to CAN$792.1 million ($782 million).

Cable revenue rose 15% to CAN$608 million ($601 million) on higher subscriber rates, while satellite TV revenue jumped 5% to CAN$184 million ($181 million).

Shaw had 2.24 million basic cable customers at the end of its third quarter.