Shaw Communications Clocks 2 Percent Revenue Growth in Q4 Due to Weaker ARPU

By Benzinga
Benzinga
Benzinga
October 30, 2021 Updated: October 31, 2021

Shaw Communications Inc. (SJR) reported fourth-quarter FY21 revenue growth of 2.1 percent year-on-year to C$1.38 billion.

Wireless revenue increased 9.2 percent Y/Y to C$321 million. Wireline revenue of C$1.06 billion was in-line with the prior year.

The Wireless postpaid churn of 1.49 percent improved from 1.57 percent for the previous year.

The average revenue per user (ARPU) of C$37.39 was down 5.7 percent Y/Y. The average billing per user (ABPU) of C$40.29 was down 10 percent Y/Y.

Adjusted EBITDA improved 3.4 percent to C$614 million, with the margin expanding 60 bps to 44.6 percent.

Earnings per share (EPS) was C$0.50 versus C$0.34 last year.

Shaw added 60,500 new Wireless customers in Q4. The continued momentum of Shaw Mobile drove postpaid net additions of 48,100 in Q4.

Wireless service revenue growth of 10.4 percent is due to continued subscriber growth, partially offset by lower ARPU.

Price Action

SJR shares traded lower by 1 percent at $28.83 on the last check Friday.

By Anusuya Lahiri

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