CALGARY — Shaw Communications Inc. says it earned $167 million in its latest quarter, down from a profit of $196 million in the same quarter last year.
The cable and wireless company says the profit amounted to 32 cents per share for the quarter ended Aug. 31, down from a profit of 38 cents per share a year ago.
Shaw says the decrease in profit was primarily due to lower equity income associated with its investment in Corus Entertainment and gains on asset sales a year ago, partially offset by lower restructuring costs this year.
Revenue for what was Shaw’s fourth-quarter totalled $1.35 billion, up from nearly $1.33 billion a year ago, helped by growth in its wireless business.
Wireless revenue totalled $283 million, up from $241 million a year ago, while wireline revenue slipped to $1.07 billion compared with nearly $1.09 billion in the same quarter last year.
During the quarter, the company’s Freedom Mobile wireless service added 90,700 customers to bring its total to nearly 1.7 million subscribers.