Cable / Telecom News

Shaw’s Q3 profits tumble 8.8% due to downsizing costs while FCF rises


CALGARY – Despite a slowing of the loss of its cable subscribers, Shaw Communications posted an 8.8% drop in profits for the third quarter ended May 31, 2014.Shaw said Thursday that net income for the period was $228 million, down from $250 million in the same period last year.Consolidated revenue for the quarter of $1.34 billion increased 1.2% from $1.33 billion over last year, while total operating income before restructuring costs and amortization of $601 million improved 2.7% from $585 million year-over-year.  Free cash flow for the three month period was $240 million, up from $138 million last year.  The...