CORRECTED-Shaw Communications profit down as video subscriptions slip

Wed Jan 14, 2015 8:52am EST
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(Corrects paragraph 4 to add dropped words "in its consumer business")

Jan 14 (Reuters) - Canadian cable TV operator Shaw Communications Inc reported a 7 percent 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), or 46 Canadian cents per share, for the three months ended Nov. 30, from C$245 million, or 51 Canadian cents a share a year earlier.

Revenue rose 2 percent 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. ($1 = 1.1965 Canadian dollars) (Reporting by Alastair Sharp and Shubhankar Chakravorty; Editing by Saumyadeb Chakrabarty)