Canada's Shaw Communications profit falls 24 pct

Tue Apr 14, 2015 8:11am EDT
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April 14 (Reuters) - Canadian media and cable company Shaw Communications Inc reported a 24 percent drop in quarterly profit, hurt by a dip in the company's video subscriptions.

Net income fell to C$168 million ($133.58 million), or 34 Canadian cents per share, for the second quarter ended Feb. 28, from C$222 million, or 46 Canadian cents per share, a year earlier.

The company lost 8,254 satellite video subscribers across its consumer and business units as well as 35,967 cable video subscribers in the second quarter.

The Calgary-based company's revenue, however, rose nearly 5 percent to C$1.34 billion. ($1 = 1.2577 Canadian dollars) (Reporting by Alastair Sharp and Shubhankar Chakravorty; Editing by Don Sebastian)