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Shaw Communications Earnings: SJR Stock Unmoving on Q2 Results


Shaw Communications (NYSE:SJR) earnings for fiscal second quarter of 2020 have SJR stock unmoving after-hours Thursday. This comes after reporting adjusted earnings per share (EPS) of 32 cents on revenue of C$1.36 billion. For comparison, Wall Street was looking for 31 cents per share on revenue of C$1.41 billion.

Shaw Communications Earnings: SJR Stock Unmoving on Q2 Results

Source: JL IMAGES/Shutterstock.com

Here’s what else is worth mentioning from the most recent Shaw Communications earnings report.

  • Adjusted per-share earnings are up 6.67% compared to 30 cents during the same time last year.
  • Revenue comes in 3.03% higher than the C$1.32 billion reported in the fiscal second quarter of 2019.
  • The Shaw Communications earnings report also includes a net income of C$167 million.
  • That’s an 8.44% increase from the company’s net income of C$154 million reported in the same period of the year prior.

Brad Shaw, CEO and executive chair of Shaw Communications, said this in the SJR stock earnings report:

“We are in unprecedented times as the world grapples with the impacts of COVID-19, the recent commodity price pressure, and the uncertain economic period ahead. While Canadians can always rely on our wireline and wireless services, the safety of our employees and customers is of utmost importance to us.”

The Shaw Communications earnings report includes an update on its fiscal 2020 outlook. The company is withdrawing its previous guidance in light of the economic turmoil caused by the novel coronavirus.

SJR stock was unmoving after markets closed on Thursday. The stock also closed out the day up slightly.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/04/shaw-communications-earnings-unmoving-sjr-stock/.

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