Shaw Communications reports $114M first-quarter profit, adds 34,000 wireless subscribers

Shaw Communications Inc. reported a first-quarter profit of $114 million as it ramped up its Freedom Mobile wireless business.

The company says the profit amounted to 22 cents per diluted share for the quarter ended Nov. 30, up from $89 million or 18 cents per diluted share a year earlier.

Revenue totalled $1.25 billion, up from $1.22 billion.

Wireless revenue climbed 26.8 per cent to $175 million, while wireline revenue fell 0.4 per cent to $1.08 billion.

During the quarter, Shaw said it added approximately 34,000 wireless subscribers compared with 9,500 net additions in the same quarter a year earlier.

Wireline subscribers fell by approximately 34,000 in the quarter compared with a loss of roughly 30,000 a year earlier.