Shaw Communications Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2017. For the three months, the company reported revenue of CAD 1,249 million compared to CAD 1,216 million a year ago. Operating income from continuing operations was CAD 225 million compared to CAD 268 million a year ago. Income from continuing operations before income taxes was CAD 197 million compared to CAD 121 million a year ago. Net income from continuing operations was CAD 120 million compared to CAD 93 million a year ago. Net income was CAD 114 million compared to CAD 89 million a year ago. Diluted earnings per share from continuing operations was CAD 0.22 compared to CAD 0.18 a year ago. Net cash from operating activities was CAD 365 million compared to CAD 263 million a year ago. Additions to property, plant and equipment was CAD 332 million compared to CAD 226 million a year ago. Additions to other intangibles were CAD 35 million compared to CAD 26 million a year ago. The year-over-year improvement in revenue was primarily due to growth in the Wireless division, contributing an incremental CAD 37 million or 26.8% in revenue driven by higher postpaid and prepaid RGUs (approximately 130,000 since November 30, 2016) and a slight improvement to average revenue per unit (“ARPU”). Free cash flow was CAD 51 million compared to CAD 158 million in the prior year. The decrease for the quarter was largely due to planned higher capital spending and lower operating income before restructuring costs and amortization.

The company is confirming that it remains on track to meet its fiscal 2018 guidance which includes consolidated operating income before restructuring costs and amortization growing to approximately CAD 2.1 billion – an increase of approximately 5% over fiscal 2017; capital investments of approximately CAD 1.38 billion; and free cash flow of approximately CAD 375 million. The company expects the majority of the growth in consolidated operating income before restructuring costs and amortization to occur in the back half of the fiscal year.