Shaw Communications Inc. says profit fell in its latest quarter compared to the same quarter last year. (Photo by THE CANADIAN PRESS)

Shaw report Q4 profit down from year ago, wireless business boosts revenue

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.

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