TORONTO — With the Honourable David W. Stratas agreeing to a one-day hearing scheduled for 9:30am Eastern on January 24, in Ottawa, those seeking an important verdict on Rogers Communications’ proposed $19.2 billion merger with Shaw Communications — which includes a spin off Shaw’s Freedom Mobile unit to Québec-based Vidéotron have one week to go.
In the meantime, interest parties can take a look at Shaw’s fiscal Q1 2023 results. They weren’t great, with earnings per share falling and missing the Zacks consensus estimate.
For the three-month period ending November 30, 2022, revenue was down by 1.2% to $1.37 billion CDN, from $1.39 million CDN.
Adjusted EBITDA declined to $617 million CDN from $633 million CDN, while net income declined to $168 million CDN ($0.34), from $196 million CDN ($0.39).
On an adjusted basis, EPS came in at $0.25, and this missed the Zacks consensus estimate by 2 cents CDN.
Shaw’s business is focused on wireless and wireline services of its phone and MVPD brands. And, it is this business and its performance in Alberta and British Columbia that attracted Rogers.
