Shaw Communications Inc., the country’s largest cable television provider, has announced its financial results for the second quarter of its fiscal year ending February 28, 2010.
The company reported that, despite trying economic conditions for Canadian consumers, service revenue and operating income were up 11% over the same period a year earlier to $929 million and $425 million respectively.
Revenues in the Cable division were up 13% for the December to February time period to $732 million while service revenue in the satellite division was up 4% over the comparable period last year to $197 million.
The growth in profits was primarily due to growth in the number of Shaw subscribers who are signing up for digital cable, digital phone, and high speed internet.
The number of Shaw analog cable customers actually declined in the quarter by 1,055, however the number of higher paying digital cable customers rose by 98,544. Digital Phone lines increased 54,922 to 978,287 during the quarter and Internet was up 26,735 to 1,771,312 as at February 28, 2010. Internet penetration among Shaw Cable subscribers now stands at 76.1%.
Direct-to-Home satellite subscribers increased by 1,071 to 903,109.
The following are Shaw subscriber counts as of February 28, 2010.
- Basic cable customers - 2,328,557
- Digital customers - 1,508,527
- Internet customers - 1,771,312
- Digital phone lines - 978,287
- DTH satellite customers - 903,109
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