Earlier today, we released our Q3 results, and I'll make some brief remarks before we open the call for questions. We believe that results are consistent with the messages we delivered back in April. During the quarter, we focused on discipline, sustainable and profitable customer initiatives. And our Q3 financial performance reflects improvements, in line with our strategic approach regarding operational activities. We delivered on our commitment to reduce our cable cost structure, and our cable EBITDA margin for the 3-month period improved by 370 basis points to 47.5% compared to a quarter ago. Our free cash flow was over $200 million in Q3, and year-to-date free cash flow from our consolidated assets totals almost $380 million.
We continue to make good progress on our strategic priorities and investments, including our Wi-Fi and DNU projects. Our network is a strategic and differentiated advantage, and we continue to make the necessary investments to ensure that this position of leadership is maintained and enhanced. Our broadband product is superior to competitive alternatives, and this represents the foundation for our future success within our Residential Consumer business. Wi-Fi continues to gain attention and credibility regarding its role within the wireless broadband ecosystem, and we are pleased with the results of our network at this stage of the build. Going forward, as additional scale is created, we will begin to actively market this additional Wi-Fi service to Shaw customers.
Our improved user interface, DreamGallery, is currently being tested in 2 markets. And this will be widely deployed by the end of this year. This software is backwards-compatible with approximately 700,000 boxes we currently have deployed across our footprint. We believe this new and modern approach to our guide will be embraced by a large number of our existing customers.
Our Media business continues to be resilient even as the advertising market remains weak. Our portfolio of specialty channels continues to outperform, and our media team has done an exceptional job in proactively reducing costs. Shaw Direct continued to generate attractive amounts of free cash flow, and we recently have announced the strategic partnership with Xplornet and a new VOD service utilizing adaptive streaming technology. Both of these should create incremental revenue opportunities going forward.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV