Canada’s lead cable TV operator Shaw Communications Inc reported a 7 per cent drop in first-quarter profit, hurt mainly by a fall in video subscriptions.
The company’s net income fell to C$227 million ($189.72 million), for the three months ended November 30, from C$245 million. Revenue rose 2 per cent to C$1.39 billion.
During the quarter, the company lost 18,372 satellite video subscribers and 11,923 cable video subscribers in its consumer business. However, new consumer Internet customers increased by 11,379.