Company News

CORRECTED-UPDATE 1-Shaw Communications revenue rises on higher subscriptions

(Corrects paragraph 5 to say the $330 million gain was in the latest quarter and not the year-earlier quarter)

Oct 26 (Reuters) - Canadian telecom company Shaw Communications Inc reported a 2.6 percent increase in revenue on Thursday as it added more wireless and internet subscribers.

Shaw said its wireless business - which it acquired in early 2016 and rebranded as Freedom Mobile - added 41,014 subscribers in the quarter, helping revenue from the business rise 16.2 percent.

Calgary-based Shaw is locked in a fierce battle for internet, television and telephone customers in the west of the country with Vancouver-based rival Telus Corp.

Net income rose to C$481 million, or 96 Canadian cents per share, in the fourth quarter ended Aug. 31 from C$154 million, or 31 Canadian cents per share, a year earlier.

The latest quarter included a C$330 million gain on the sale of a business.

Revenue rose to C$1.24 billion from C$1.21 billion. (Reporting by Akshara P in Bengaluru; Editing by Anil D’Silva)