Shaw Communications Posts 44% Fall in Profit

Shaw Communications (SJRb.TO) reported a smaller-than-expected quarterly profit, mainly due to costs associated with the launch of its low-priced internet service. The company, which has streamlined its focus on selling access to broadband data, rolled out its cheap WideOpen Internet 150 service in July to over 90 per cent of its customers.
As quoted in the press release:

Shaw has transformed itself into a pure-play communications company, purchasing the country’s fourth-largest wireless company Wind Mobile in late February and selling its media assets to Corus Entertainment Inc (CJRb.TO 2.15%).
The company said on Wednesday it expected slightly higher operating income in 2017.

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