News

Shaw Communications posts 2Q profit of $112.3 million, result misses forecasts

CALGARY – CALGARY, Alberta (AP) _ Shaw Communications Inc. (SJR) on Thursday reported fiscal second-quarter net income of $112.3 million.

The Calgary, Alberta-based company said it had net income of 23 cents per share. Earnings, adjusted to account for discontinued operations, were 17 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The communications and media company posted revenue of $828.5 million in the period.

Shaw shares have increased 10 per cent since the beginning of the year. The stock has declined 18 per cent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SJR at http://www.zacks.com/ap/SJR

_____

Keywords: Shaw Communications, Earnings Report