April 12, 2018 / 2:04 PM / in 8 months

BUZZ-Shaw Communications: Jumps on strong Q2 subscriber additions

** Canadian telecom company’s shares up 10 pct at C$26.52, its highest single-day gain since 2004

** Quarterly profit tops analysts’ estimates as wireless subscriber additions more than doubled from a year earlier

** Q2 revenue up 12.4 pct to C$1.36 bln; increase in wireless subscribers helped by demand for Apple Inc’s iPhones, which Shaw began offering in December

** Co recorded charges of C$417 mln related to its restructuring program and voluntary departure packages

** Up to Wednesday’s close, stock had fallen 15.4 pct this year, compared with larger rivals Rogers Communications Inc down 9 pct and Telus Corp down 3 pct (Reporting by Karan Nagarkatti)

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