April 12, 2017 / 11:16 AM / in 2 years

Shaw Communications revenue rises on wireless customer additions

(Reuters) - Canada’s Shaw Communications Inc (SJRb.TO) reported a 13.3 percent rise in quarterly revenue on Wednesday, as it added more wireless customers and said Alek Krstajic would be stepping down as chief executive of its wireless unit.

Shaw did not have a wireless business before the acquisition of Wind Mobile in December 2015 for C$1.6 billion. The unit was rebranded as Freedom Mobile and added 33,582 postpaid customers in the second quarter ended Feb. 28.

The company on Wednesday also named Paul McAleese as chief operating officer of its wireless unit.

Calgary-based Shaw’s net income fell to C$147 million, or 30 Canadian cents per share, from C$164 million, or 32 Canadian cents per share, a year earlier.

The company’s quarterly expenses rose to C$764 million from C$649 million, a year earlier.

Excluding items, the company earned 30 Canadian cents per share, in line with the average analysts’ estimate. Quarterly revenue rose to C$1.30 billion from $1.15 billion.

U.S.- and Toronto-listed shares of Shaw jumped over 4 percent in morning trading.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Shounak Dasgupta

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