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Shaw Communications profit misses consensus by 21.0% in fiscal Q1

Shaw Communications Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, amounted to 37 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 47 cents per share.

EPS increased 42.7% year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$179.1 million, an increase of 47.0% from C$121.9 million in the prior-year period.

The normalized profit margin fell to 10.4% from 11.1% in the year-earlier period.

Total revenue climbed 28.9% on an annual basis to C$1.42 billion from C$1.10 billion, and total operating expenses grew 23.8% from the prior-year period to C$1.02 billion from C$826.0 million.

Reported net income grew 42.8% on an annual basis to C$206.8 million, or 43 cents per share, from C$144.8 million, or 31 cents per share.