Canada's Shaw Communications posts profit, but loses more TV customers

TORONTO Tue Jan 14, 2014 8:32am EST

TORONTO Jan 14 (Reuters) - Western Canada-focused Shaw Communications Inc posted a 4 percent rise in first-quarter profit on Tuesday, but it continued to lose customers in its main cable television business.

The Calgary, Alberta-based cable company said its net income was C$245 million, or 51 Canadian cents a share, compared with C$235 million, or 50 Canadian cents a share, a year earlier. Revenue was up 3 percent at C$1.36 billion.

Shaw, which is facing tough competition for TV and Internet customers from telecom rival Telus Corp, said it lost 29,619 TV subscribers.

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