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Shaw’s quarterly mobile service revenues climb 11%; fixed sales flatten

Shaw Communications reported its consolidated financial and operating results for its fiscal first quarter ended 30 November 2021, with total revenue increasing by 1.2% year-on-year to CAD1.39 billion (USD1.11 billion), adjusted EBITDA rising 4.3% to CAD633 million and net income growing 20.2% to CAD196 million. In the three-month period the company added 55,600 net new mobile subscriptions across its Freedom Mobile and Shaw Mobile brands. Post-paid net additions of 36,100 in the quarter were driven by the continued momentum of Shaw Mobile, while quarterly mobile service revenue grew 11.2% to CAD239 million due to continued subscriber growth, partially offset by lower ARPU due to the lower-revenue Shaw Mobile customer base. Mobile equipment revenue decreased 8.8% to CAD93 million as more consumers took advantage of bring-your-own-device plans. Shaw reported that its 'Wireline' division lost 76,200 revenue generating units (RGUs) in the quarter, albeit this was an improvement over the year-ago period, led by positive fixed broadband internet subscription additions as customers continued to bundle their internet and mobile services together. Quarterly Wireline revenue was near-flat y-o-y at CAD1.06 billion.

Shaw also reiterated its commitment to completing its planned merger with Rogers Communications under their agreement of March 2021. CEO Brad Shaw declared: 'Our combination with Rogers will do more for the future prosperity of Canada than either company could achieve on its own. Together, Rogers and Shaw can build a national next-generation network that will offer robust and effective competition over the long-term, and bridge Canada's digital divide benefiting rural, remote and indigenous communities. The resources and network of the combined company will help accelerate Canada's digital economy and stimulate greater economic diversification in Western Canada.' Subject to regulatory approvals, Shaw expects to close the deal 'in the first half of 2022'.

Thanks to TeleGeography for this industry update.

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