Shaw announced its Q4 2016 and year-end results on Wednesday morning, posting strong wireless results.
Revenue for the quarter hit $1.3 billion CAD, an increase of 15.5 percent over the same period last year. Meanwhile, year-to-date revenue climbed to $4.9 billion, a year-on-year increase of 8.9 percent.
Revenue derived specifically from Wind Mobile, the company’s recently acquired wireless division, hit $148 million, a 12 percent increase from its first quarter under Shaw’s wing. Wind Mobile was able to add 39,819 subscribers during the quarter, 27,031 of whom were postpaid customers. All told, the company now has 1,043,288 total subscribers. Wind announced it had acquired its 1 millionth subscriber back in May.
Average revenue per user (ARPU) climbed by 3 percent from the previous quarter to $37.40 thanks to higher handset revenue.
“Fiscal 2016 marks a very deliberate pivot in the strategic direction for Shaw towards long-term, sustainable growth. This exciting new era builds on our wireline network advantage and extends our position into wireless and an enhanced connectivity company, delivering significant value to both our customers and our shareholders,” said the company’s CEO Brad Shaw in a statement.
“Strong execution in fiscal 2016 resulted in solid financial results through this period of significant change. Our growth segments, comprised of Wireless, Business Network Services and Business Infrastructure Services, will continue to play a key role as we work towards building a stronger future for Shaw that drives long-term growth for all stakeholders.”
Net income for the quarter was $154 million. That’s actually a decrease from the $276 million net income Shaw reported this same time last year. In 2015, Shaw sold wireless spectrum it had acquired in a previous Industry Canada wireless auction to Rogers, which helped boost its fiscal results that quarter. That said, net income for the year hit $1.2 billion, a significant increase from the $880 million, thanks in large part to the $2.65 billion sale of Shaw Media to Corus Entertainment.
Shaw says it expects to record an operating income between $2.125 billion and $2.175 billion in fiscal 2017.