Shaw profit tops expectations

Investor's Business Daily

Canada's largest cable TV provider said EPS fell slightly to 52 cents, from 53 cents a year ago. But Shaw Communications' (SJR) EPS beat analyst consensus by 8 cents, boosted by rising sales on higher cable and satellite TV service prices. Sales rose just 3.8% to $1.33 bil, topping Wall Street's $1.31 bil target. Shaw said sales were lighter than it expected on lower number of subscribers and costs associated with repairing damage from floods this month. Shares rose 5%.

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