In what’s likely one of its last quarterly reports as an independent operator, Shaw Communications reports a mix of decreases in its second quarterly report of the year.
Shaw’s overall revenue declined by two percent year-over-year to $1.36 billion for the quarter that ended on February 28th.
Shaw added 16,900 new wireless customers to its network, but post-paid net additions decreased.
The company attributes this to several factors, including increased competition during the holiday season, limited supplies, and adjustments to its plans.
Wireless revenue decreased by nearly four percent year-over-year. Of this, revenue for wireless services saw an increase of 9.2 percent, but revenue from wireless equipment fell by 28 percent, given the decrease in device sales year-over-year, as “more consumers took advantage of bring your own device plans.”
The company added nearly 16,900 wireless subscribers, down from 82,00 reported in Q2 2021.
Wireline
Shaw’s wireline services include video (cable and satellite), internet, and phone. The company reports numbers in two larger categories, consumer and business.
Collectively, the company reports a decline of 58,081 subscribers for its wireline services across the board. The decline is smaller than the 66,000 loss reported in Q2 2021.
This quarter saw a “modest gain” for internet services. The company added 538 subscribers on the consumer end, an improvement from the 5,425 subscribers it lost in Q2 2021. On the business end, it reports 338 internet subscribers, a slight decline from the 369 reported year-over-year.
Shaw offsets the overall internet figures with video, satellite, and phone declines.
The merger
Alongside Rogers, Shaw says it’s continuing to work with the government and regulator to have the merger approved.
The Canadian Radio-television and Telecommunications Commission is the only regulator to approve the merger so far.
“We recognize that we can do so much more by coming together and reiterate our continued commitment to work with Rogers to close the transaction while delivering the benefits that the combined entity will provide to all Canadians,” Brad Shaw, Shaw’s CEO said.
Regulators are expected to approve the deal in the first half of 2022.
Source: Shaw Communications
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