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, sending its shares almost 2 percent lower.The Calgary, Alberta-based cable company, which is facing tough competition for TV and Internet customers from telecom rival Telus Corp and a burgeoning threat from online alternatives such as Netflix Inc, said it lost 29,619 cable-TV subscribers and 9,323 satellite TV customers.It added 2,746 Internet subscribers and 1,351 landline telephone subscribers in the quarter, which ended on Nov 30.The subscriber numbers missed or barely met analyst expectations, while Shaw said it was more focused on raising prices for its services than growing its subscriber base.
Netflix, Inc. is an Internet television network with more than 33 million members in over 40 countries. Shares of NFLX traded higher by 0.34% or $1.15/share to $337.96. In the past year, the shares have traded as low as $95.75 and as high as $389.16. On average, 3209040 shares of NFLX exchange hands on a given day and today's volume is recorded at 2820010.
Shaw Communications Inc. (Shaw) is a diversified Canadian communications company. Shares of SJR fell by 2.32% or $-0.54/share to $22.76. In the past year, the shares have traded as low as $21.32 and as high as $25.46. On average, 275090 shares of SJR exchange hands on a given day and today's volume is recorded at 744887.
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