Shaw Communications posts modest gains in Q2
Revenues from Shaw’s media division were $249 million, up 3 percent from the preceding year, showing improved advertising and subscriber revenues.
Shaw Communications reported a modest increase of two per cent in second-quarter profit released Friday.
“Our second quarter financial results were solid reflecting the underlying strength across our businesses as we focus on sustainable and profitable growth,” said CEO Brad Shaw in a press release.
The Calgary-based media company owns Global News. Revenues from Shaw’s media division were $249 million, up 3 percent from the preceding year, showing improved advertising and subscriber revenues. Net income for the company was $182 million for the quarter and $417 million for the year-to-date period.
“The efforts behind these numbers are nothing short of fantastic,” Shaw’s president Paul Robertson added in an internal memo.
Shaw has made a series of investments in its media assets, including the relaunch of Global News websites, a brand new 24-hours new channel in B.C. and expanded coverage in Montreal and the Maritimes. On Thursday, Shaw announced it was replacing its one-hour Global Maritimes New Final show with a two 30-minute hyperlocal shows tailored to Halifax and New Brunswick audiences.
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