Coming off its recent announcement of acquiring 700 MHz and 2500 MHz wireless spectrum licences from Quebecor, Shaw Communications, the parent company of Freedom Mobile, declared its Q3 2017 financial results, revealing that the company is slowly gaining ground in Canada’s competitive wireless market.
Ending May 31st, 2017, Shaw saw an increase in Freedom Mobile’ RGUs (revenue generating units) by 20,085 in the quarter. The total subscriber base hooked onto Freedom Mobile’s network is now 1,106,159 with postpaid subscribers accounting for 735,002 customers. Freedom’s prepaid subscribers decreased by 111 to 371,157.
Shaw revenue for the quarter of $1.31 billion, with wireless revenues accounting for $154 million in the quarter, up $22 million or 16.7 percent from the same period last year. Average Revenue Per User (ARPU) was $37.05 in Q3, up from $36.30 in Q3 2016.
Brad Shaw, chief executive officer of Shaw, noted, “We are confident that the acquisition of 700 MHz and 2500 MHz spectrum from Quebecor Media Inc., combined with Freedom’s current portfolio of assets, will materially improve our customer experience and will further enable our ability to offer best-in-class converged network solutions. With our customers’ future connectivity needs at the heart of every strategic decision we make, we are excited about the opportunity this additional spectrum presents and the compelling wireless experience we will continue to create for our existing and future customers.”
This was the first quarterly earnings since the departure of long time Canadian wireless executive and former CEO Alek Krstajic in April. Chief operating officer Paul McAleese is now overseeing the day-to-day operations and brand direction of Freedom Mobile.
Earlier this month, Shaw’s president Jay Mehr stated he wants his company “to be a powerful player in wireless with millions and millions and millions of subscribers.”