Shaw Communications Clocks 2% Revenue Growth In Q4 Due To Weaker ARPU

Shaw Communications Inc SJR reported fourth-quarter FY21 revenue growth of 2.1% year-on-year to C$1.38 billion.
Wireless revenue increased 9.2% Y/Y to C$321 million. Wireline revenue of C$1.06 billion was in-line with the prior year.
The Wireless postpaid churn of 1.49% improved from 1.57% for the previous year.
ARPU of C$37.39 was down 5.7% Y/Y. ABPU of C$40.29 was down 10% Y/Y.
Adjusted EBITDA improved 3.4% to C$614 million, with the margin expanding 60 bps to 44.6%.
EPS was C$0.50 versus C$0.34 last year.
Shaw added 60,500 new Wireless customers in Q4. The continued momentum of Shaw Mobile drove postpaid net additions of 48,100 in Q4.
Wireless service revenue growth of 10.4% is due to continued subscriber growth, partially offset by lower ARPU.
Price Action: SJR shares traded lower by 0.76% at $28.9 on the last check Friday.