Shaw Communications earnings for the company’s fiscal second quarter of 2019 have SJR stock down on Tuesday.
Shaw Communications (NYSE:SJR) reported earnings per share of 23 cents for its fiscal second quarter of the year. This is down from its earnings per share of 24 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 22 cents for the quarter, but couldn’t keep SJR stock from falling today.
Shaw Communications earnings for the company’s fiscal second quarter of 2019 also includes net income of $116.37 million. This is better than the company’s net loss of $131.39 million reported in its fiscal second quarter of 2018.
The Shaw Communications earnings report for its fiscal second quarter of the year has operating income coming in at $412.19 million. Operating income reported by the communications company in the same period of the year prior was $362.64 million.
The bad news fro SJR stock comes from revenue of $988.05 million in the Shaw Communications earnings report for its fiscal second quarter of 2019. This is a drop from the company’s revenue of $997.81 million reported in its fiscal second quarter of the previous year. It also comes in below analysts’ revenue estimate of $1.01 billion for the period.
“While we still have lots of work ahead of us, our second quarter and year-to-date results reflect improvement on all these initiatives, combined with a meaningful reduction in our cost structure that resulted in strong margin performance in the quarter,” Brad Shaw, CEO of Shaw Communications, said in a statement.
SJR stock was down 2% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.