Shaw Communications rate climbs up tripling 3rd quarter profits.
Beginning in August, Shaw Communications is raising its rates to residential TV, internet and telephone clients. While its benefits have dramatically multiplied from a similar time a year ago, the Calgary-based company says clients can hope to see a month to month charge increment of up to $5 for TV, $2-3 for web and $1 for telephone services, contingent upon the services they subscribe to.
“This rate adjustment is due to both rising operational costs and investing in our network and technology advancements” as “more people connect with more devices, more often,” Shaw said on its website.
The company will work with customers “on a one-on-one basis” to evaluate their packages and address concerns, it added.
In the interim, the company said Friday that its benefits dramatically multiplied in the third quarter, supported by the offer of its media division to Corus Entertainment Inc.
It earned $704 million or $1.44 per weakened share for the three months finishing May 31, up from $209 million or 42 cents for every weakened share in a similar quarter a year prior, says Shaw.
The outcomes incorporated a $615 million one-time pick up on the offer of Shaw Media to Corus for $2.65 billion in cash and shares.
Income in the quarter was $1.28 billion, an expansion of 13% from $1.14 billion.
Not withstanding the Corus agreement, Shaw gained Wind Mobile not long ago for $1.6 billion.